Taiwan: Exports accelerate in June
July 7, 2011
In June, exports increased 10.8% over the same month last year to reach a record-high USD 25.2 billion. The monthly expansion was above the 9.5% rise recorded in May but undershot market expectations that exports would expand 20.0%. The increase reflected a 14.3% expansion in plastics and rubber as well as a 12.3% increase in basic metals. The government expects exports to remain strong on the back of resilient global demand for electronic products, in particular for information and communication items, which continue to expand robustly. Meanwhile, imports expanded 12.5% in June, slower than the 19.3% increase registered in May. These developments saw the trade surplus widen from USD 1.3 billion in May to USD 1.4 billion.