Taiwan Trade Surplus Grows Sharply Amid Exports Surge

(RTTNews) - Taiwan's foreign trade surplus increased notably in December from a year ago as exports rose amid a continued fall in imports, preliminary figures from the Ministry of Finance revealed on Tuesday.

The trade surplus climbed to $11.1 billion in December from $4.8 billion in the corresponding month last year. The surplus also grew from $9.8 billion in November.

Exports surged 11.1 percent year-over-year in December, following a 3.8 percent recovery in November. That was also well above the 4.9 percent rise expected by economists.

Shipments of information, communication, and audio-video products jumped 94.7 percent annually in December, while those of plastic and rubber and related articles dropped by 3.2 percent.

Imports declined 6.5 percent in December from last year after a 14.8 percent slump in the prior month. The expected fall was 7.3 percent.

During the whole year 2023, total exports contracted 9.8 percent and imports fell 17.8 percent. The trade balance showed a surplus of $80.56 billion.