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Financial News: Taiwan Trade Surplus Decreases In April

Taiwan Trade Surplus Decreases In April

05/08/2020 - 07:06:00 (RTTNews)

(RTTNews) - Taiwan's trade surplus decreased in April as exports declined more than expected amid rising imports, figures from the Ministry of Finance showed on Friday.

The trade surplus decreased to $2.267 billion in April from $2.702 billion last year. Economists had expected a surplus of $2.80 billion. In March, the trade surplus was $2.782 billion.

Exports decreased 1.3 percent year-on-year in April, following a 0.6 percent fall in March. Economists had expected a decline of 1.0 percent.

Imports rose 0.5 percent annually in April, the same rate as seen in the preceding month. Economists had forecast a fall of 1.5 percent.

Exports of parts of electronic product, information, communication and audio-video products grew in April, while exports of base metals and articles of base metal, machinery, plastics and rubber, and articles thereof declined.

Imports of parts of electronic product, machinery, chemicals and information, communication and audio-video products gained in April, while imports of mineral products decreased.

Exports to Mainland China and Hong Kong, Japan and U.S.A. increased, while shipments to ASEAN and Europe declined sharply in April.

In the January to April period, exports and imports rose by 2.4 percent and 2.7 percent, respectively, from a year ago.

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