FX.co ★ Taiwan Trade Surplus Shrinks In June

In June, Taiwan experienced a reduction in its foreign trade surplus as imports outpaced exports, according to preliminary data from the Ministry of Finance released on Tuesday.

The trade surplus dropped to $4.68 billion in June, down from $6.02 billion in the same month the previous year, and also decreased from $6.05 billion in May.

Exports saw a significant increase, rising by 23.5 percent year-over-year in June, a notable acceleration from the 3.5 percent growth recorded in the prior month. Economists had anticipated a growth rate of 11.45 percent.

The information, communication, and audio-video product sectors saw a remarkable 114.1 percent annual surge in shipments for June, with machinery exports increasing by 10.5 percent.

Imports experienced a substantial rise of 33.9 percent on an annual basis in June, following a modest 0.6 percent increase in May. This figure significantly exceeded economists' expectations of a 15.0 percent rise.