Taiwan: Exports contract at a sharper pace May
June 7, 2016
In May, the trade surplus totaled USD 3.5 billion, tallying the lowest reading in five months and marking a deterioration from the USD 4.8 billion surplus tallied in the previous month. In the 12 months up to May, the trade surplus totaled USD 46.2 billion (April: USD 48.0 billion surplus).
Exports totaled USD 23.5 billion in May, which represented a sharp 9.6% contraction in year-on-year terms. May’s result marked a deterioration from April’s 6.5% decline, which was the smallest contraction since May 2015. The print tallied in May represents the 16th consecutive contraction. Imports tallied a total of USD 20.0 billion in May, which was a 3.4% fall over the same month of last year. The figure represents a softer decline than the 9.6% drop tallied in April.