Trade surplus in May for 15th month in a row: MOF

June 28, 2007

Taiwan enjoyed a trade surplus in May for the 15th month in a row, said Ministry of Finance (MOF) officials.

The trade surplus in May totaled USD 1.39 billion, growing by US 680 million year-on-year -- a 95.9% increase, said the officials.

According to the MOF, exports in May totaled USD 19.58 billion, growing 3.5% over the same period last year, the 7th highest ever in a single month. Meanwhile, May imports totaled USD 18.19 billion, growing slightly by 0.1%, the 3rd highest ever in a single month.

Lee Li-shue, director of the MOF statistics department, said that May exports saw an increase, thanks to year-on year growth in exports to Hong Kong and Mainland China (5.2%), ASEAN (3.3%), and Europe (12.5%).

For imports, Taiwan saw growth from Hong Kong and Mainland China (14%), the US (12.5%), and Europe (12.2%).

MOF figures showed that total export output from Jan. to May was USD 93.86 billion, a 6.8% year-on-year increase. Exports to Asian countries grew by 7.5% overall -- exports to Hong Kong, Japan, Korea, and ASEAN countries grew by 6.7%, 3.1%, 7.1%, and 10%, respectively. Exports to Europe grew by 10.9%, while exports to the US fell by 2.5%.

Imports from Jan. to May totaled USD 84.73 billion, growing 4.1% year-on -year.

IT and telecommunications products exports dipped in May by 15.1% year-on-year, in line with a normal, continuing trend from last year, as more factories are moving abroad, said MOF officials.

Electronics exports overall saw an unusual year-on-year decline of 2.3% in May, but MOF officials pointed out that 2006 is a relatively high base for comparison, as electronics exports grew by 23.16% for the entire year.

(Central News Agency)

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