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Financial News: Taiwan Trade Surplus Falls In February

Taiwan Trade Surplus Falls In February

03/09/2020 - 06:43:00 (RTTNews)

(RTTNews) - Taiwan's trade surplus decreased in February, as imports increased faster than exports, figures from the Ministry of Finance showed on Monday.

The trade surplus decreased to US$ 3.303 billion in February from 5.056 billion last year. Economists had expected a surplus of US$ 3.9 billion. In January, trade surplus was US$ 3.458 billion.

Exports increased 24.9 percent year-on-year in February, after a 7.5 percent fall in January. Economists had expected a decline of 5.0 percent.

Imports grew 44.7 percent annually in February, after a 17.6 percent decline in the preceding month. Economists had forecast a fall of 1.85 percent.

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

Imports of parts of electronic product, mineral products, machinery, chemicals, base metals and articles of base metal increased from a year ago.

Exports to Mainland China and Hong Kong, ASEAN, Japan, U.S.A. and Europe grew in February.

In the January to February period, exports and imports rose by 6.3 percent and 5.3 percent, respectively, from a year ago

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