The trade surplus in Taiwan narrowed to USD 3.30 billion in February 2020 from USD 5.06 billion a year earlier, compared to market expectations of a USD 3.9 billion surplus. Exports and imports for January and February tend to be volatile due to the Lunar New Year holidays which in 2020 fell in January but in 2019 in February. Imports jumped 44.7 percent year-on-year to USD 22.08 billion, boosted by machinery & electrical equipment (42.1 percent), mineral products (18.5 percent), chemicals (10.1 percent) and base metals & articles (6.9 percent). Among major trading partners, imports went up mainly from China and Hong Kong (15 percent) and the US (13.2 percent). Exports rose 24.9 percent to USD 25.38 billion, driven by higher sales of machinery & electrical equipment (59.5 percent), base metals & articles (7.6 percent), plastic & rubber (6.4 percent) and chemicals (5.7 percent). Exports increased for China and Hong Kong (38.6 percent) and to the US (13.4 percent).
Balance of Trade in Taiwan averaged 1661.38 USD Million from 1981 until 2020, reaching an all time high of 6604.45 USD Million in September of 2017 and a record low of -847.44 USD Million in February of 2006. This page provides - Taiwan Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Taiwan Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on March of 2020.
Balance of Trade in Taiwan is expected to be 2100.00 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 3400.00 in 12 months time. In the long-term, the Taiwan Balance of Trade is projected to trend around 3400.00 USD Million in 2021 and 2400.00 USD Million in 2022, according to our econometric models.