Imports in Taiwan
Taiwan - Imports (percent change)
Exports and imports soar in February, trimming trade surplus
Merchandise exports expanded 24.9% in annual terms in February, contrasting January’s 7.5% contraction. The reading reflected a surge in electronic and ICT product exports, while base metal and plastics outflows also increased. That said, export orders—which typically lead actual exports by two to three months—decreased 12.8% in January, the latest month for which data is available, suggesting ebbing trade momentum going forward.
Meanwhile, merchandise imports skyrocketed 44.7% year-on-year in February, reversing direction from the 17.6% decrease recorded in the prior month. The increase was broad-based, with steep rises recorded in all sub-sectors.
As such, the trade surplus fell to USD 3.3 billion in February, down significantly from the USD 5.1 billion figure observed in February 2019, and lower than the USD 3.5 billion surplus recorded in the previous month. The 12-month trailing trade surplus fell to USD 44.3 billion in February from USD 46.1 billion in January.
Our panelists forecast that exports will expand 3.0% in 2020 and imports will rise 0.9%, bringing the trade surplus to USD 50.9 billion. In 2021, our panel expects exports will expand 3.1% and imports will rise 3.9%, pushing down the trade surplus to USD 50.3 billion.
Taiwan - Imports (%) Data
|Imports (annual variation in %)||1.4||-15.9||-3.0||12.2||10.7|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||0.69||1.28 %||Dec 31|
|Exchange Rate||29.91||0.07 %||Jan 01|
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March 23, 2020
Industrial output flew 20.3% higher in February compared to the same month a year earlier, contrasting the revised 2.1% decrease recorded in January (previously reported: -1.5% year-on-year). The stellar reading in February was helped in no small part by a sizeable base effect, likely influenced by differences in dates of the Chinese Lunar Holiday between this year and the last, as well as being aided by the leap year effect this year.
March 19, 2020
At its monetary policy meeting on 19 March, the Board of Directors of Taiwan’s Central Bank unanimously decided to lower the discount rate by 0.25 percentage points to a record low of 1.125%.
March 9, 2020
Merchandise exports expanded 24.9% in annual terms in February, contrasting January’s 7.5% contraction.
March 6, 2020
Consumer prices decreased 1.08% in February compared with the previous month, contrasting January’s revised 0.61% increase (previously reported: +0.59%).
March 2, 2020
The manufacturing Purchasing Managers’ Index (PMI), reported by IHS Markit, fell to 49.9 in February from 51.8 in January.