Jan 2007 exports second highest on record

March 6, 2007

The Ministry of Finance (MOF) announced that in January exports totaled USD 19.85 billion, the second highest on record.

Exports saw a 17.9% jump on demand for electronics from China. Computer chips and electronic components increased 15% year-on-year, with revenues of USD 5.3 billion, according to a report by Bloomberg.

Taiwan's exports to Hong Kong/China, Korea, and ASEAN all grew more than 23%, while exports to Japan and Europe saw growth of 16.1% and 12.5%, respectively, said Lee Li-shu, director of the MOF statistics department.

Imports totaled USD 17.96 billion, growing 23.8% on the previous year.

Consumer goods imports totaled USD 1.52 billion in Jan., growing 15.7% on the previous year. This marks the first time since last Sept. that imports have seen positive growth, thanks to abating consumer credit problems. Tobacco and alcohol, small vehicles, cosmetics, and pharmaceuticals comprised the bulk of imports in Jan., said the statistics department.

In Jan., the trade surplus was USD 1.89 billion, the eleventh month in row for a surplus, said the MOF.

The MOF noted that with a reviving global economy, decreasing credit problems among Taiwan consumers, and a rising number of jobs, the nation's economy is on an upswing.

(United Daily News, Taipei Times, Bloomberg)

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