Financial News: Taiwan Exports Fall 13.3%, Less Than Forecast

Taiwan Exports Fall 13.3%, Less Than Forecast

05/08/2023 - 06:09:00 (RTTNews)

(RTTNews) - Taiwan's exports declined for the eighth successive month in April, though at a slower-than-expected rate, preliminary figures from the Ministry of Finance revealed on Monday.

Exports fell 13.3 percent year-over-year in April, slower than the 19.1 percent fall in March. Economists had forecast an 18.15 percent plunge.

Shipments of plastic and rubber and related articles fell the most, by 28.6 percent annually in April, and those of base metals and articles of base metal slid by 25.2 percent.

Machinery exports decreased 13.0 percent over the year, and outflows of parts of electronic products declined 8.6 percent.

Imports also contracted sharply by 20.2 percent annually in April, almost in line with the 20.1 percent slump in March. That was a faster than expected fall of 18.0 percent.

As a result, the trade surplus rose to $6.7 billion in April from $4.8 billion in the corresponding month last year. The expected surplus was $3.7 billion.

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