Taiwan's trade surplus widened to USD 7.14 billion in September 2020 from USD 3.13 billion in the same period of the previous year, beating market expectations of USD 5.2 billion. That was the largest trade surplus on record as exports jumped by a greater than expected 9.4 percent, amid a recovery in global demand. Sales increased mostly for parts of electronic product (26.1 percent) and information, communication and audio-video products (22.5 percent). Among major trading partners, exports increased to China & Hong Kong (22.3 percent) and the US (14.5 percent), but fell to ASEAN (-4.1 percent), Japan (-7.6 percent) and Europe (-4.7 percent). Meanwhile, imports were down unexpectedly by 5.4 percent, due to lower purchases for machinery (-16.1 percent), mineral products (-29.3 percent) such as petroleum, chemicals (-9.1 percent), and information, communication and audio-video products (-3.6 percent). Imports declined from all key trade partners.
Balance of Trade in Taiwan averaged 1707.30 USD Million from 1981 until 2020, reaching an all time high of 7140 USD Million in September of 2020 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 October of 2020.
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 3950.00 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 3000.00 USD Million in 2022, according to our econometric models.