February exports fall 17.1%

07 March, 2023

By ECCT staff writers


Taiwan’s exports in February fell 17.1% from the same month in 2022 to US$31.05 billion, while imports fell 9.4% from a year earlier to US$28.7 billion, resulting in a trade surplus of US$2.35 billion, which was down 59.3% year-on-year, according to data from the Ministry of Finance (MOF).


In the first two months of 2023, Taiwan's exports plunged 19.2% from a year earlier to US$62.56 billion while imports fell 13.3% to US$57.86 billion.


By sector, the electronic component sectors, which accounted for 41.7% of Taiwan's total exports, reached US$12.94 billion, down 17.8% from a year earlier in February. Exports of semiconductors alone fell 17.3% from a year earlier to US$11.99 billion, according to the MOF, while exports of the information/communications and video/audio industry fell 9% from a year earlier to US$4.16 billion in February.

Broken down by region, China and Hong Kong remained the largest buyer of Taiwan-made goods in February, accounting for 35.4% of Taiwan's total exports in February. Taiwan's exports to those markets fell 30.2% from a year earlier to US$11.01 billion.


Exports to ASEAN countries fell 11.1% from a year earlier to US$5.66 billion, while exports to the United States and Europe moved lower by 13.7% and 4.8%, respectively, to US$4.73 billion and US$2.91 billion in February, the MOF said. Only exports to Japan bucked the general downturn, moving higher by 1.0% from a year earlier to US$2.33 billion in February.

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