News
July exports fall 10.4%
By ECCT staff writers
Taiwan’s total exports for the month of July contracted 10.4% year on year to US$38.73 billion while total imports fell 20.9% from a year earlier to US$30.25 billion, according to a report from the Ministry of Finance (MOF).
According to the report, exports of information, communication and audio-video products grew by 54.1% in July compared to the same month in 2022. However, exports of parts of electronic products, base metals and articles of base metal, machinery, plastics & rubber and articles thereof declined 7.9%, 28.1%, 22.1%, and 28.8%, respectively.
In July 2023, compared with the same month of last year, exports to Europe rose by 24%. However, exports to Mainland China & Hong Kong, ASEAN, Japan, and the USA declined by 16.3%, 8.4%, 6.1%, and 3.3%, respectively.
Year to date (from January to July 2023), total exports are down 16.9% while imports are down 20.2% from the same period in 2022. Broken down by region, only exports to Europe have risen year to date (by 2.3%) while exports to all other regions declined.
