The trade surplus in Taiwan more than doubled to $5.76 billion in December of 2020 from $2.47 billion a year earlier and beating market forecasts of $4.6 billion. Exports jumped 12% to a record $33 billion, the sixth consecutive month of increases and above market forecasts of a 9.2% gain. Sales rose mostly for parts of electronics (22%); information, communication and audio-video (18%); base metals (3%); machinery (5%) and plastics & rubber (16%). Imports edged up 0.9% to $27.2 billion, much lower than forecasts of a 4.1% gain, with main increases seen for electronics (22%) and information, communication and audio-video (24%). Considering full 2020, the trade surplus surged 35.1% to $58.8 billion as exports jumped 4.9% to a record $345.28 billion and imports increased only 0.3% to $286.5 billion. Exports to China jumped by 20.5% to a record high and to the US increased by 7.5%. source: Ministry of Finance, R.O.C.
Balance of Trade in Taiwan averaged 1735.18 USD Million from 1981 until 2020, reaching an all time high of 7450.59 USD Million in October 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 January of 2021.
Balance of Trade in Taiwan is expected to be 5100.00 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 2022 and 3000.00 USD Million in 2023, according to our econometric models.