Taiwan: External sector remains weak
December 7, 2012
In November, exports expanded 0.9% over the same month the previous year. The figure contrasted the 1.9% drop recorded in October and undershot market expectations of a 7.8% rise. The monthly figure mainly reflected how higher shipments of electronics and mineral products were nearly offset by lower exports of textiles.
As a result of the monthly reading, in the 12 months up to November, exports contracted 3.0% over the same period the previous year (October: -2.9% year-on-year). Meanwhile, imports rose 0.1% in November, which contrasted the 1.8% decline recorded in October. As a result, imports declined 4.1% in annual terms in the last 12 months (October: -5.0% yoy).
The trade balance reached a USD 3.4 billion surplus in November, exceeding market expectations of a USD 3.2 billion surplus. As a result, the 12-month moving sum of the trade balance reached a USD 28.6 billion surplus in November, slightly above the USD 28.4 billion surplus observed in October.