Taiwan: Trade surplus hits five-month low in November on sharp contraction in exports
December 9, 2015
In November, the trade surplus totaled USD 2.8 billion. The reading was below the USD 4.2 billion surplus recorded in the same month of last year and represents the lowest surplus in five months. November’s result reflects the strong headwinds the Taiwanese external sector is facing as demand for high-tech goods has dropped. In the 12 months up to November, the trade surplus totaled USD 51.8 billion (October: USD 53.2 billion).
Exports totaled USD 22.1 billion in November, which represented a notable 16.9% contraction in year-on-year terms. November’s print represents a significant deterioration from October’s 11.0% fall and marks the biggest contraction since August 2009. Imports of USD 19.4 billion in November represented a sharp 13.7% fall over the same month of last year. The figure marked a smaller contraction compared to October’s 20.0% drop.