Taiwan’s trade surplus increased in August as both exports and imports rose strongly, figures from the Ministry of Finance showed on Monday.
The trade surplus increased to US$6.466 billion in August from US$6.012 billion last year. Economists had expected a surplus of $5.80 billion. In July, the trade surplus was $5.369 billion.
Exports rose 8.3 percent year-on-year in August, following a 0.4 percent rise in July. Economists had expected a rose 1.6 percent.
Imports grew 8.5 percent annually in August, after a 6.8 decrease in the preceding month. Economists had forecast a rise of 0.7 percent.
Exports of parts of electronic products, information, communication and audio-video products grew in August, while those of base metals and related products, machinery, plastics and rubber, and related articles declined.
Imports of parts of electronic product, machinery, chemicals, information, communication and audio-video products gained in August, while those of mineral products decreased.
Exports to Mainland China and Hong Kong and U.S.A. increased, while shipments to ASEAN, Japan and Europe declined in July.
In the January to August period, exports rose 1.5 percent, while imports fell 0.1 percent from a year ago.
The material has been provided by InstaForex Company – www.instaforex.com