Taiwan: Decline in exports intensifies in June
July 7, 2015
In June, the trade surplus totaled USD 2.2 billion. The reading was above the USD 1.9 billion surplus recorded in the same month of last year, but notably below market expectations of a USD 4.7 billion surplus and the USD 5.4 billion surplus recorded in May. In the 12 months up to June, the trade surplus totaled USD 49.2 billion (May: USD 48.9 billion).
Exports reached USD 23.1 billion in June, which represented a significant 13.9% contraction in year-on-year terms. June’s print was a notable deterioration from May’s 3.8% fall and marked an over-two-year low. Imports recorded USD 20.9 billion in June, which represented a 16.1% fall over the same month of last year. The figure marked a deterioration over May’s 5.4% decrease.