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Financial News: Taiwan Trade Surplus Grows In October

Taiwan Trade Surplus Grows In October

11/09/2020 - 04:14:00 (RTTNews)

(RTTNews) - Taiwan's trade surplus grew in October as exports rose and imports declined, figures from the Ministry of Finance showed on Monday.

The trade surplus increased to US$7.463 billion in October from US$3.951 billion in last year. Economists had expected a surplus of US$5.0 billion. In August, the trade surplus was $7.136 billion.

Exports rose 11.2 percent year-on-year in October, following an 9.4 percent growth in September. Economists had expected an increase 4.2 percent.

Imports declined 1.0 percent annually in October, following a 5.4 percent increase in the preceding month. Economists had forecast a fall of 2.5 percent.

Exports of parts of electronic products, information, communication and audio-video products, plastic and rubber, and articles thereof, and machinery grew in October.

Imports of parts of electronic product, machinery, information, communication and audio-video products increased in October, while those of mineral products and chemicals declined.

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

In the January to October period, exports rose 3.4 percent, while imports fell 0.8 percent from a year ago.

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