Taiwan: Growth in exports and imports soars in February
March 7, 2017
Exports notably increased 27.7% year-on-year, totaling USD 22.7 billion in February. The increase followed the 7.0% expansion in January. February’s expansion was driven again by a rise in exports of electronics and this led the 12-month trailing sum of exports to total USD 286.8 billion.
Imports also noted considerable improvement, expanding 42.1% in February from the same month last year, totaling USD 19.3 billion. The growth rate was significantly greater than January’s 8.6% rise. February’s increase brought imports to a total of USD 237.1 billion over the previous 12 months.
Taiwan’s trade surplus totaled USD 3.4 billion in February, according to data from the Ministry of Finance (MOF). The result was considered favorable as it came in at just USD 0.1 billion less than in January. In the 12 months up to February, the trade surplus totaled USD 48.9 billion, slightly smaller than January’s USD 49.7 billion reading.
Author: Christopher Thomas, Economist