September 24, 2004
The Ministry of Finance reports that Taiwan exported
USD 14.75 billion in goods in August, up 20% on the year and the third highest single-month export figure ever, while importing
USD 13.9 billion, an increase of 33.7% and the fourth highest single-month import figure. August also marks the tenth consecutive month for both exports and imports to post gains.
Taiwan racked up a trade surplus of
USD 850 million in August, 55.3% lower than in August 2003. For the first eight months of the year, exports total
USD 113.35 billion, up 24.9% on the year, and imports total
USD 107.72 billion, up 35%. The trade surplus for this year has hit
USD 5.63 billion, 48.4% lower than in the same period last year.
The MOF says that record-high global oil prices and lingering expectations that the United States will raise interest rates have taken some of the stream out of the domestic and global economies. The ministry points out that, while Taiwan is not expected to continue to enjoy the 20 and 30 percent trade growth it saw in the first half of the year, it is still forecast to achieve double-digit growth in the second half of the year, with growth rates of around 15% for exports and of over 20% for imports predicted for this period.
(Economic Daily News)
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