Taiwan: Growth in exports and imports moderates in March from substantial surge in February
April 10, 2017
Exports increased 13.2% year-on-year, totaling USD 25.7 billion in March, according to data from the Ministry of Finance (MOF). The increase, albeit still solid, marked a moderation compared to the 27.7% jump recorded in February. March’s expansion was driven again by a rise in exports of electronics and semiconductors. This led the 12-month trailing sum of exports to total USD 290 billion, a figure that was 4.7% higher relative to the same period last year.
Imports also slowed in March, decelerating from a massive 42.1% expansion in February to a 19.8% increase in March, totaling USD 21.8 billion. March’s increase brought imports to a total of USD 242 billion over the previous 12 months—a 5.5% increase year-on-year.
Taiwan’s trade surplus totaled USD 3.9 billion in March. The result was considered favorable as it came in above the USD 3.4 billion in February. In the 12 months up to March, the trade surplus totaled USD 48.3 billion, slightly smaller than February’s USD 48.9 billion reading.
Author: Ricardo Aceves, Senior Economist