Trade Balance in Taiwan
Taiwan - Trade Balance
Exports fall in October, but at a moderated pace
Merchandise exports decreased 1.5% in October in annual terms, after decreasing 4.6% in September. The moderated drop was in part due to a strong increase in ICT exports, although falling exports of metals, machinery, plastics and rubber all weighed on the overall reading. Meanwhile, export orders—which typically lead actual exports by two to three months—dropped 4.9% in September, the latest month for which data is available, after decreasing 8.3% in August.
Merchandise imports, meanwhile, decreased 4.1% in October, down from the 0.6% decrease in September. This latest fall was due to a slump in petroleum imports, likely on lower prices.
The 12-month trailing sum of exports fell 2.6% in October, down from a 1.8% drop in September, while the 12-month trailing sum of imports decreased 1.0% in October, contrasting the 0.8% increase in September.
The trade surplus widened to USD 4.0 billion in October from both USD 3.3 billion in October 2018 and USD 3.1 billion in the previous month. The 12-month trailing trade surplus increased to USD 46.1 billion in October from USD 45.4 billion in September.
Our panelists forecast that exports will expand 4.5% in 2020 and imports will rise 4.1%, bringing the trade surplus to USD 56.5 billion. In 2021, our panel expects exports will expand 6.8% and imports will rise 1.8%, pushing up the trade surplus to USD 75.5 billion.
Taiwan - Trade Balance Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Trade Balance (USD billion) | 33.4 | 38.2 | 48.1 | 49.8 | 58.0 |
Taiwan Trade Balance Chart
Source: Central Bank of China.
Taiwan Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.70 | 1.28 % | Nov 21 |
| Exchange Rate | 30.52 | 0.07 % | Nov 21 |
| Stock Market | 11,558 | 0.37 % | Nov 21 |
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Economic News
Taiwan: Manufacturing PMI remains depressed in November
December 2, 2019
The manufacturing Purchasing Managers’ Index (PMI), reported by IHS Markit, remained unchanged at 49.8 in November, once again coming in below the 50-threshold that signals deteriorating operating conditions in the manufacturing sector. The amount of new work received by manufacturers decreased in November for the 15th consecutive month.
Taiwan: Industrial production remains in the doldrums in October
November 25, 2019
Industrial output declined 2.9% in October compared to the same month a year earlier, sharper than the 0.7% decrease in September (previously reported: -0.8% year-on-year). The downturn in October was driven by a steeper fall in output in the manufacturing sector, which represents more than 90% of total industrial production.
Taiwan: Exports fall in October, but at a moderated pace
November 8, 2019
Merchandise exports decreased 1.5% in October in annual terms, after decreasing 4.6% in September.
Taiwan: Inflation holds steady in October
November 6, 2019
Consumer prices increased 0.03% in October compared to the previous month, down from the 0.17% increase in September.
Taiwan: Manufacturing PMI dips in October
November 1, 2019
The manufacturing Purchasing Managers’ Index (PMI), reported by IHS Markit, dipped to 49.8 in October from 50.0 in September, once again coming below the 50.0-threshold that separates contraction from expansion after briefly climbing above it in September for the first time in a year. The amount of new work received by manufacturers decreased in October at a faster pace than in September, amid a steeper drop in new export sales, partly due to the ongoing U.S.-China trade war.
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