Imports in Taiwan
Taiwan - Imports (percent change)
Exports contract marginally, pushing trade surplus lower
Merchandise exports contracted 0.6% in annual terms in March, contrasting February’s stellar 24.9% expansion. The mild overall fall belied markedly lower exports of machinery, plastics and base metals, partially offset by higher outflows of electronic products. Meanwhile, export orders—which typically lead actual exports by two to three months—decreased 0.8% in February, the latest month for which data is available, suggesting a continued slowdown in trade momentum going forward.
Meanwhile, merchandise imports inched up 0.5% year-on-year in March, slowing considerably from the rapid 44.7% increase recorded in the prior month. As with exports, the marginal overall increase veiled a marked increase in electronics inflows, partly offset by falling imports of mineral products and machinery.
As such, the trade surplus dropped to an 11-month low of USD 2.8 billion in March, down from both the USD 3.1 billion figure observed in March 2019, and the USD 3.3 billion surplus recorded in the previous month. The 12-month trailing trade surplus inched marginally lower to USD 44.0 billion in March from USD 44.3 billion in February.
Our panelists forecast that exports will expand 2.2% in 2020 and imports will rise 0.3%, bringing the trade surplus to USD 49.9 billion. In 2021, our panel expects exports will expand 3.0% and imports will rise 4.8%, pushing down the trade surplus to USD 46.3 billion.
Taiwan - Imports (%) Data
|Imports (annual variation in %)||-15.9||-3.0||12.2||10.7||0.3|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||0.69||1.28 %||Dec 31|
|Exchange Rate||29.91||0.07 %||Jan 01|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
August 18, 2022
The near-term economic impact should be limited. Longer-term risks are significant due to the potential for further sanctions, shipping disruptions and war. What happened: From 4 August, China launched a series of military drills close to Taiwan, in response to Nancy Pelosi—the Speaker of the U.S. House of Representatives—visiting Taiwan earlier in the month.
August 12, 2022
GDP growth dipped to 3.0% year on year in the second quarter from 3.7% in Q1, marking the slowest increase since Q2 2020 and slightly undershooting market expectations.
August 8, 2022
Merchandise exports rose 14.2% on an annual basis in July (June: +15.2% year-on-year) amid higher exports of electronics, machinery and mineral products.
August 5, 2022
Consumer prices fell 0.03% from the previous month in July, swinging from June's 0.38% rise.
August 1, 2022
The S&P Global Manufacturing Purchasing Managers' Index (PMI) declined from 49.8 in June to 44.6 in July.