Taiwan: Exports recover in December
January 7, 2013
In December, exports increased 9.0% over the same month the year before. The reading came in well above the 0.9% rise seen in November and doubled market expectations of exports growing 4.5%. Strong exports of mineral products as well as of optical and photographic instruments were the main drivers behind the monthly increase. In the full year 2012, exports contracted 2.3%, which contrasted the 12.3% expansion recorded in 2011.
Imports expanded 1.6% in December, which nonetheless represents an improvement over the paltry 0.1% rise seen in November. In the full year 2012, imports dropped 3.8%, which contrasted a 12.0% rise in 2011.
Meanwhile, the trade balance reached a USD 4.1 billion surplus in December, exceeding market expectations of a USD 2.9 billion surplus. As a result, in the full year 2012, the trade surplus reached USD 30.4 billion surplus, which was above the USD 26.8 billion observed in 2011.