Financial News: Taiwan Trade Surplus Grows In February

Taiwan Trade Surplus Grows In February

03/08/2024 - 04:11:00 (RTTNews)

(RTTNews) - Taiwan's foreign trade surplus increased notably in February from a year ago as exports rose amid a sharp fall in imports, preliminary figures from the Ministry of Finance revealed on Friday.

The trade surplus climbed to $7.88 billion in February from $2.39 billion in the corresponding month last year. The surplus also grew from $2.49 billion in December.

Exports rose 1.3 percent year-over-year in February, following an 18.1 percent surge in December. That was slightly faster than the 1.1 percent rise economists had forecast.

Shipments of information, communication, and audio-video products showed a massive growth of 104.6 percent annually in February, while those of plastic and rubber and related articles dropped by 22.6 percent.

Imports slumped 17.8 percent in February from last year, reversing the 19.0 percent rise in the prior month. The expected fall was 2.5 percent.

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