Taiwan: Exports rebound in February
March 9, 2012
In February, exports expanded 10.3% over the same month last year to USD 23.4 billion. The reading contrasted the 16.8% decline observed in January ? largely affected by the Lunar New Year holiday ? and was virtually in line with market expectations of a 10.4% rise. Although the January increase was broad-based, it was primarily driven by stronger shipments of vehicles, minerals and vegetable products. Imports grew a meagre 1.3% in February, which contrasted the 11.9% decline registered in January. As a result, the trade surplus widened from USD 420 million in January to USD 2.8 billion in February. According to the government, exports should recover in March on an improved global environment as well as a restocking process in the U.S. The government expects export growth to reach 5.0% this year.