April exports fall 13.3%
By ECCT staff writers, MOF
Taiwan’s total exports contracted 13.3% year-on-year to US$35.96 billion in April while total imports fell 20.2% from the same month in 2022 to US$29.25 billion, according to a report from the Ministry of Finance (MOF). This marked the eighth consecutive month of annual export contractions and bringing accumulated year-to-date exports to US$133.7 billion, down 17.7% from the same period last year.
According to the MOF, compared with the same month of last year, exports of information, communication and audio-video products grew by 5.4%. However, exports of parts of electronic products, base metals and articles of base metal, machinery, plastics & rubber and articles thereof declined 8.6%, 25.2%, 13.0%, and 28.6%, respectively while imports of parts of electronic products, mineral products, machinery, chemicals, base metals and articles of base metal declined 26.0%, 18.8%, 18.3%, 33.2%, and 31.7%, respectively.
Broken down by destination, compared with the same month of last year, exports to Japan grew by 19.8% in April. However, exports to China & Hong Kong, ASEAN, the USA, and Europe declined 22.0%, 7.1%, 10.3%, and 3.6%, respectively. Year-to-date, exports to Japan are up 1.2% while exports to China & Hong Kong, ASEAN, the USA, and Europe are down by 28.5%, 14.1%, 15% and 2.2%, respectively.