Taiwan's trade surplus widened to USD 4.84 billion in June 2020 from USD 3.82 billion in the same month of the previous year and above market expectations of a USD 4 billion surplus. It was the largest trade surplus since August last year, as imports dropped 8.6 percent to USD 22.29 billion, mostly due to lower purchases of mineral products (-50.9 percent), namely petroleum (-75.9 percent); chemicals (-9.4 percent) and machinery (-6 percent). Among major trading partners, imports decreased from ASEAN (-3 percent), Europe (-16.2 percent) and the US (-23.5 percent). Exports fell 3.8 percent to USD 27.13 billion, due to lower sales of base metals and articles of base metal (-23.8 percent); machinery (-17.7 percent) and plastics & rubber and articles thereof (-23.4 percent). Exports declined to ASEAN (-12.1 percent), Japan (-11.2 percent) and Europe (-18.2 percent).
Balance of Trade in Taiwan averaged 1678.14 USD Million from 1981 until 2020, reaching an all time high of 6604.45 USD Million in September of 2017 and a record low of -847.44 USD Million in February of 2006. This page provides - Taiwan Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Taiwan Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020.
Balance of Trade in Taiwan is expected to be 2600.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Taiwan to stand at 3950.00 in 12 months time. In the long-term, the Taiwan Balance of Trade is projected to trend around 3400.00 USD Million in 2021 and 3000.00 USD Million in 2022, according to our econometric models.