Taiwan exports end 2-month falling streak in November
Dec 09, 2019MarketComments Off on Taiwan exports end 2-month falling streak in November
Taipei-Taiwan's exports rose more than 3 percent from a year earlier in November, breaking a two-month downward streak, as Taiwanese companies raised their local production in a bid to avoid the impact of trade friction between the United States and China, the Ministry of Finance (MOF) said Monday.
The ministry said that another reason for the country's outbound sales returning to a growth pattern in November was because of the diversion effect at a time when foreign buyers placed more orders with Taiwanese exporters amid the Washington-Beijing trade dispute, while a peak-season effect in the global market also helped the local electronics industry to generate more revenue.
In November, Taiwan's exports rose 3.3 percent from a year earlier to US$28.58 billion after a fall of 1.5 percent in October and a decline of 4.6 percent in September, according to data compiled by the MOF.
On a month-on-month basis, Taiwan's exports fell 1.4 percent, the data showed.
It also indicated that imports for November rose 5.8 percent from a year earlier to US$24.30 billion, with a trade surplus of US$4.28 billion, down US$430 million from a year earlier.
In the first 11 months of this year, Taiwan's outbound sales totaled US$299.85 billion, down 1.9 percent from a year earlier, while imports hit US$258.86 billion, down 0.9 percent year-on-year, with a trade surplus down US$3.55 billion at US$40.99 billion, the MOF said.