Taiwan: Exports decline in March
April 12, 2012
In March, exports fell 3.2% over the same month last year to USD 26.3 billion. The decline contrasted the 10.3% increase observed in February but undershot market expectations of a 4.5% drop. The monthly fall was primarily driven by declining shipments of textiles, chemical products and plastics. Imports contracted a sharper 5.8% in March, which contrasted the 1.3% rise registered in February. Nevertheless, the trade surplus shrank from USD 2.8 billion in February to USD 2.4 billion. According to the government, export growth will be limited by the slow global economic recovery but should increase somewhat amid an improving situation in Europe and better labour figures in the United States. The government expects export growth to reach 5.0% this year.