Taiwan has 13 Month Trade Surplus Streak
The Ministry of Finance (MOF) announced a trade surplus in March for the 13th month in a row as a result of growth in exports to China and Europe. According to MOF statistics, the trade March surplus totaled USD 2.21 billion.
In other figures related to the surplus, exports grew by 10.4% to USD 19.76 billion, the fourth highest on record. Exports to China, ASEAN countries, and Europe each increased over 13%, and while exports to Japan rose by 9.7%. Imports to Taiwan totaled US 17.55 billion, growing 8.5% (the fifth highest on record) as imports from the US and Europe also increased by over 20%.
From January to March of this year, exports were valued at USD 54.45 billion, and imports at USD 48.18 billion. That is an increase of 8.5% and 3.1% from 2006 and 2005, respectively. The trade surplus for the January to March period totaled USD 6.27 billion, growing by USD 2.83 billion, or 81.9% over the same period in 2006.
The MOF attributed the yearly growth during the January through March period to sustained economic growth in the US and Europe, coupled with rising demand in Asia and other countries. During this period, Taiwan exports to Mainland China, Japan, Korea, and ASEAN countries grew from last year 6.9%, 5.8%, 14.2%, and 13.9%, respectively, while exports to Europe grew by 11.5%.
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