Taiwan: Exports rise to record-high in July
August 8, 2011
In July, exports increased 17.6% over the same month last year to reach a record-high USD 28.1 billion. The expansion was above both the 10.8% rise recorded in June and market expectations of an 8.8% expansion. The increase reflected a 29.1% expansion in plastics and rubber, a 27.3% rise in basic metals as well as strong growth in information and communication products. The government expects exports to remain strong on the back of resilient global demand for electronic products, particularly information and communication items, which continue to expand robustly. Meanwhile, imports expanded 14.0% in July, only slightly faster than the 12.5% increase registered in June. These developments saw the trade surplus more than double from USD 1.4 billion in June to USD 3.3 billion, the largest surplus since March 2009.