Taiwan: Decline in exports moderates in July
August 7, 2015
In July, the trade surplus totaled USD 3.6 billion. The reading was above the USD 2.6 billion surplus recorded in the same month of last year and above market expectations of a USD 3.2 billion surplus. In addition, the result was above the USD 2.2 billion surplus recorded in June. In the 12 months up to July, the trade surplus totaled USD 50.2 billion (June: USD 49.2 billion).
Exports reached USD 23.5 billion in July, which represented a significant 11.9% contraction in year-on-year terms. However, July’s print was an improvement from June’s 13.9% fall, which had marked an over-two-year low. Imports recorded USD 19.9 billion in July, which represented a 17.4% fall over the same month of last year. The figure marked a deterioration over June’s 16.1% decrease.