Taiwan Trade November 2019

Taiwan

Taiwan: Exports and imports rebound in November

December 9, 2019

Merchandise exports increased 3.3% in November in annual terms, contrasting October’s 1.5% contraction. The rebound came amid a strong increase in ICT exports, although falling exports of metals, machinery, plastics and rubber moderated the overall reading. Exports to the U.S. continued to surge—up almost 17% this month after October’s near-18% increase—with year-to-date results also showing the increased importance of the U.S. as a trading partner, likely linked to trade diversion from China. However, export orders—which typically lead actual exports by two to three months—decreased 3.5% in October, the latest month for which data is available, suggesting softer export momentum ahead.

Meanwhile, merchandise imports rose 5.8% in November, contrasting the 4.1% decrease in October. The increase was primarily driven by a surge in machinery imports, which outweighed falling imports of electronic, mineral and chemical products.

The trade surplus was USD 4.3 billion in November, down from the USD 4.7 billion figure observed in November 2018, but nonetheless up from the USD 4.0 billion surplus in the previous month. The 12-month trailing trade surplus decreased to USD 45.7 billion in November from USD 46.1 billion in October.

Our panelists forecast that exports will expand 3.4% in 2020 and imports will rise 3.8%, bringing the trade surplus to USD 54.4 billion. In 2021, our panel expects exports will expand 1.4% and imports will rise 2.4%, pushing down the trade surplus to USD 52.3 billion.


Author:, Economist

Sample Report

Looking for forecasts related to Trade in Taiwan? Download a sample report now.

Download

Taiwan Trade Chart


Taiwan Trade12m November 2019

Note: 12-month sum of trade balance in USD billion and annual average variation of the 12-month sum of exports and imports.
Source: Ministry of Finance (MOF) and FocusEconomics calculations.


Taiwan Economic News

  • Taiwan: Industrial production dips in January

    February 24, 2020

    Industrial output decreased 1.5% in January compared to the same month a year earlier, contrasting the revised 6.3% increase recorded in December (previously reported: +6.0% year-on-year). The contraction in January was broad-based, but primarily driven by a reduction in output in the manufacturing sector, which represents more than 90% of total industrial production.

    Read more

  • Taiwan: Growth accelerates in Q4 2019

    February 12, 2020

    The economy expanded 3.3% in the fourth quarter compared to the same quarter a year earlier, according to a second GDP release.

    Read more

  • Taiwan: Exports and imports slump in January, trade surplus widens

    February 7, 2020

    Merchandise exports slumped 7.6% in annual terms in January, contrasting December’s 4.0% expansion.

    Read more

  • Taiwan: Inflation jumps to 21-month high in first month of the year

    February 6, 2020

    Consumer prices increased 0.59% in January compared with the previous month, accelerating from December ’s revised 0.06% increase (previously reported: +0.04%).

    Read more

  • Taiwan: Manufacturing PMI rises to 17-month high in January

    February 3, 2020

    The manufacturing Purchasing Managers’ Index (PMI), reported by IHS Markit, climbed to 51.8 in January from 50.8 in December, thus moving further above the 50-threshold and signaling the fastest pace of improvement in operating conditions since August 2018. The improvement came amid stronger growth of both output and new work received by manufacturers, while export sales returned to expansionary territory for the first time in 17 months.

    Read more

More news

Search form