Taiwan: Growth in exports accelerates in August
September 9, 2013
In August, exports expanded 3.6% over the same month last year, which more than doubled the 1.6% rise seen in July. That said, the print undershot market expectations of a 4.0% increase. The expansion mainly reflected increases in exports of electronic products and basic metals.
On the other hand, imports contracted 1.2% in August, which followed the sharp 7.6% drop tallied in July. The reading defied market expectations of a 2.6% increase.
The trade balance recorded a USD 4.6 billion surplus in August. The print was above the USD 3.4 billion surplus registered in the same month last year and beat market expectations of a USD 3.7 billion surplus.
FocusEconomics Consensus Forecast panelists expect exports to grow 3.1% in 2013 and 7.8% in 2014.