Taiwan's trade surplus widened to USD 5.98 billion in August 2019 from USD 4.61 billion in the same month last year, as exports rose 2.6 percent boosted by sales of parts of electronic product (7.5 percent) and information, communication and audio-video products (31.4 percent). In contrast, exports declined for plastics and rubber (-11 percent), machinery (-9.2 percent), and base metals (-5.5 percent). Among key trading partners, exports increased to the US (22.8 percent), Japan (7 percent), Mainland China and Hong Kong (1.1 percent), and ASEAN (0.7 percent). Imports dropped 2.7 percent due to lower purchases of chemicals (-15.7 percent), base metals (-15.2 percent), and mineral products (-5.9 percent). Imports of parts of electronic product and machinery were up 2.1 percent and 1.8 percent respectively. Imports fell from ASEAN (-10.7 percent), Japan (-6.7 percent), the US (-6.9 percent), and Europe (-4.8 percent). Balance of Trade in Taiwan averaged 1638.43 USD Million from 1981 until 2019, reaching an all time high of 6662.67 USD Million in September of 2017 and a record low of -847.44 USD Million in February of 2006.
Balance of Trade in Taiwan is expected to be 1800.00 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 4000.00 in 12 months time. In the long-term, the Taiwan Balance of Trade is projected to trend around 3400.00 USD Million in 2020, according to our econometric models.