Taiwan: Trade surplus narrows marginally in November
December 7, 2016
Taiwan's trade surplus was USD 4.3 billion in November, according to data from the Ministry of Finance (MOF). The result was down slightly from the USD 4.4 billion surplus recorded in October but more than double the USD 2.1 billion surplus registered in the same month last year. In the 12 months to November the trade surplus totaled USD 48.7 billion (October: USD 46.6 billion surplus).
Exports rose 12.1% on a year-on-year basis, totaling USD 25.3 billion in November. The reading was above the 9.4% growth recorded in October and marks the fastest growth rate in nearly four years. The MOF signaled that the growth in exports in November was driven by a rise in exports of electronics, base metals, plastics and machinery on a year-on-year basis.
Meanwhile, imports grew 3.0% in November compared to the same month last year, totaling USD 21.1 billion. The growth rate was substantially lower than October’s 19.5% rise. November’s increase in imports was driven by greater electronics, machinery and chemicals imports.
Author: Ricardo Aceves, Senior Economist