Taiwan: Exports expand for second time in August
September 7, 2016
In August, the trade surplus totaled USD 4.0 billion, which was higher than the USD 3.6 billion surplus in the same month last year. In the 12 months up to August, the trade surplus totaled USD 48.6 billion (July: USD 48.2 billion surplus).
Exports increased 1.0% annually to total USD 24.7 billion in August, expanding for the second month after July’s 1.2% increase had ended 17 months of contraction. August’s result also overshot the 0.4% rise the markets had expected and was supported by an increase in four of the five components of the index, with parts of electronic products, such as microchips, observing the largest increase. In August, global retailers began stocking up smartphones and other gadgets ahead of the year-end shopping season.
Imports totaled USD 20.7 billion in August, falling 0.8% over the same month last year (July: -0.2% year-on-year). August’s figure, together with July’s, mark the softest decreases in the last 21 months.
Author: Ricardo Aceves, Senior Economist