Taiwan’s trade surplus shrank sharply to USD 0.91 billion in January of 2019 from USD 2.69 billion in the corresponding month of the previous year, missing market expectations of a USD 3.285 billion surplus. Exports decreased 0.3 percent, less than an expected 2.9 percent decline, mainly due to lower sales to China (-7.5 percent). On the other hand, shipments rose to the US (+21.2 percent); Japan (+13.6 percent) and Europe (+11.4 percent). Meantime, imports climbed 6.8 percent, against market consensus of a 3.7 percent fall. Balance of Trade in Taiwan averaged 1600.58 USD Million from 1981 until 2019, reaching an all time high of 6662.67 USD Million in September of 2017 and a record low of -847.44 USD Million in February of 2006.
Balance of Trade in Taiwan is expected to be 3400.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Taiwan to stand at 4800.00 in 12 months time. In the long-term, the Taiwan Balance of Trade is projected to trend around 3400.00 USD Million in 2020, according to our econometric models.