October exports rise 8.4%

By ECCT staff writers, MOF

Taiwan’s total exports for the month of October 2024 expanded 8.4% year-on-year to US$41.30 billion while imports rose by 6.5% from the same month in 2023 to US$34.43 billion. Six of the 11 key categories of exported goods posted a gain last month, but five saw a decline. According to the monthly report from the Ministry of Finance (MOF), exports of parts of electronic products, information, communication and audio-video products, base metals and articles of base metal and machinery grew by 6.1%, 28.0%, 6.2%, and 1.5%, respectively. However, exports of plastics & rubber and articles thereof declined by 6.6%. Meanwhile, imports of parts of electronic products, information, communication and audio-video products, machinery, and chemicals grew by 14.9%, 18.6%, 13.6%, and 0.1%, respectively while imports of mineral products declined 14.2% in October 2024 compared to the same month in 2023.

For the first ten months of the year, the information, communication and audio-video parts sector is the only category to post year-on-year growth (up 72.6% year-on-year) while all other categories have declined on a year-on-year basis (parts of electronic products declined by 3.3%).