Taiwan’s exports decreased for a second straight month, but at a slower pace in October, while the rate of decline in imports increased, leading to a higher trade surplus, figures from the Ministry of Finance showed on Friday.
Exports decreased 1.5 percent year-on-year following a 4.6 percent slump in September. Economists had forecast a 1.8 percent fall.
Shipments of parts of electronic product, information, communication and audio-video products grew, while those of base metals and related articles, machinery, plastics & rubber and articles declined.
Among the major trading partners, exports to Japan and the U.S. rose, while those to Mainland China, Hong Kong, ASEAN and Europe decreased.
Imports dropped 4.1 percent, after a 0.6 percent decline in the previous month. The pace of decline was the steepest in three months. Economists were looking for a modest fall of 0.1 percent.
The trade balance rose by 18.9 percent year-on-year to US$3.953 billion. Economists had forecast a surplus of US$3.68 billion.
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