Taiwan Trade Surplus Increase More Than Expected
Taiwan’s trade surplus rose more than expected in February, as exports and imports increased from last year, figures from the Ministry of Finance showed on Tuesday.
The trade balance registered a surplus of US$4.51 billion in February. Economists had expected a surplus of US$4.25 billion.
Exports grew 9.7 percent year-on-year in February, after a 36.8 percent rise in January. Economists had expected an increase of 10.5 percent.
Imports gained 5.7 percent annually in February, after a 29.9 percent increase in the preceding month. Economists had forecast a rise of 12.2 percent.
Exports of parts of electronic products, information, communication and audio-video products, base metals and articles of base metal, plastics and rubber and articles thereof, and machinery grew in February.
Imports of parts of electronic product, machinery, base metals and articles of base metals increased in February, while those of mineral products and chemicals declined.
Exports to Mainland China and Hong Kong, U.S.A, ASEAN, Europe and Japan rose in February.