News
October exports fall 0.5%
By ECCT staff writers
Taiwan’s total exports contracted 0.5% year on year to US$39.93 billion in October (compared to the same month in 2021) while imports rose by 8.2% from a year earlier to US$36.95 billion.
According to a news release from the Ministry of Finance, exports of parts of electronic products as well as information, communication and audio-video products grew by 15.9% and 11.4%, respectively. However, exports of base metals and articles of base metal, machinery, plastics & rubber and articles thereof declined 27.6%, 4.4%, and 28.7%, respectively. Meanwhile, imports of mineral products, machinery, information, communication and audio-video products grew by 42.0%, 20.7%, and 9.6%, respectively. However, imports of parts of electronic products as well as chemicals declined 0.1% and 5.1%, respectively.
According to the news release, exports for the first ten months of the year reached US$407.664 billion, a rise of 12% from the same period in 2021 while imports came in at US$363.997 billion, up 17% over the same period in 2021.
Broken down by country and region, exports to ASEAN countries, Japan, the USA and Europe rose by 11.0%, 18.7%, 3.1%, and 1.5%, respectively in October. However, exports to Mainland China & Hong Kong declined 9.2%. Year-to-date, exports to Europe have risen by 9% while those to China, ASEAN, and the United States have risen by 7.6%, 19.4% and 18.2%. However, exports to Japan over the same period have declined by 0.4%.
