Trade Balance in Taiwan
Taiwan - Trade Balance
Exports contract marginally, pushing trade surplus lower
Merchandise exports contracted 0.6% in annual terms in March, contrasting February’s stellar 24.9% expansion. The mild overall fall belied markedly lower exports of machinery, plastics and base metals, partially offset by higher outflows of electronic products. Meanwhile, export orders—which typically lead actual exports by two to three months—decreased 0.8% in February, the latest month for which data is available, suggesting a continued slowdown in trade momentum going forward.
Meanwhile, merchandise imports inched up 0.5% year-on-year in March, slowing considerably from the rapid 44.7% increase recorded in the prior month. As with exports, the marginal overall increase veiled a marked increase in electronics inflows, partly offset by falling imports of mineral products and machinery.
As such, the trade surplus dropped to an 11-month low of USD 2.8 billion in March, down from both the USD 3.1 billion figure observed in March 2019, and the USD 3.3 billion surplus recorded in the previous month. The 12-month trailing trade surplus inched marginally lower to USD 44.0 billion in March from USD 44.3 billion in February.
Our panelists forecast that exports will expand 2.2% in 2020 and imports will rise 0.3%, bringing the trade surplus to USD 49.9 billion. In 2021, our panel expects exports will expand 3.0% and imports will rise 4.8%, pushing down the trade surplus to USD 46.3 billion.
Taiwan - Trade Balance Data
|Trade Balance (USD billion)||48.1||50.0||58.3||49.2||43.5|
5 years of economic forecasts for more than 30 economic indicators.
Taiwan Trade Balance Chart
Source: Central Bank of China.
|Bond Yield||0.69||1.28 %||Dec 31|
|Exchange Rate||29.91||0.07 %||Jan 01|
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July 7, 2020
Consumer prices rose 0.79% in June over the previous month, swinging from May's 0.11% fall.
July 7, 2020
Merchandise exports contracted 3.8% in annual terms in June, following May’s 2.0% fall.
July 1, 2020
The manufacturing Purchasing Managers’ Index (PMI), reported by IHS Markit, rose to 46.2 in June from 41.9 in May, thus pulling away from May’s 11-year low reading.
June 23, 2020
Industrial output rose 1.5% year-on-year in May (April: +4.2% yoy).
June 18, 2020
At its monetary policy meeting on 18 June, the Board of Directors of Taiwan’s Central Bank unanimously decided to maintain the discount rate unchanged at the record low of 1.125%.