Taiwan's trade surplus narrowed to USD 6.12 billion in October of 2021 from USD 7.42 billion in the same month last year, smaller than market expectations of USD 6.6 billion. Exports advanced 24.6% year-on-year to a fresh record of USD 40.14 billion, beating market forecasts of a 24.4% jump, mainly driven by robust demand for tech products ahead of the peak holiday season and higher raw material prices. Accordingly, shipments rose the most for machinery & electrical equipment (17.8%); and base metals & articles thereof (65.2%). Meanwhile, imports surged 37.2% to USD 34.02 billion, more than market estimates of 30.7%, led by purchases of machinery & electrical equipment (34.5%); mineral products (117.0%); and chemicals (35.4%). Looking forward, government officials said exports were likely to expand between 22% and 26% in November and see full-year foreign sales surpass USD 400 billion for the first time ever. source: Ministry of Finance, R.O.C.
Balance of Trade in Taiwan averaged 1809.94 USD Million from 1981 until 2021, reaching an all time high of 7424.90 USD Million in October of 2020 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 December of 2021.
Balance of Trade in Taiwan is expected to be 2000.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Taiwan Balance of Trade is projected to trend around 3000.00 USD Million in 2022, according to our econometric models.