Exports decline on falling global demand
By ECCT staff writers
Taiwan’s exports in the month of April shrank 1.3% year-on-year to US$25.24 billion, according to the Ministry of Finance (MOF). In the same month, Taiwan’s imports rose by 0.5% from a year earlier to US$22.97 billion, resulting in a trade surplus of US$2.27 billion.
In spite of the coronavirus pandemic, in the first four months of this year, Taiwan's exports rose 2.4% year-on-year to US$103.92 billion, while imports grew 2.7% to US$92.14 billion, creating a trade surplus of US$11.79 billion, up 0.4% from a year earlier.
According to the MOF, compared with the same month of last year, exports of electronic parts and products, information, communication and audio-video products grew by 24.3% and 12.9% in April. However, exports of base metals and articles of base metal, machinery, plastics & rubber and articles thereof declined 18.0%, 10.9% and 16.3%, respectively.
In terms of imports, electronic parts and products, machinery, chemicals and information, communication and audio-video products grew by 24.5%, 2.9%, 5.5% and 32.8%, respectively, in April. However, imports of mineral products declined 38.5%.
In terms of geographical region, exports to Mainland China & Hong Kong, Japan and USA grew by 14.0%, 17.5% and 1.5%. However, exports to ASEAN and Europe declined 12.2% and 20.1%, respectively. Meanwhile, imports from Mainland China & Hong Kong, ASEAN, Japan and Europe grew by 17.4%, 2.1%, 4.7% and 17.9%. However, imports from the USA and the Middle East declined by 21.3% and 44.9%, respectively.