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Taiwan's Exports at Record High in March

Increasing 22.7% exports grew to $24.25 billion

Taiwan's exports in March grew 22.8% year-on-year to an all-time high of US$24.25 billion as shipments to China, Southeast Asia and India rose, the finance ministry said April 8.

The figure compared with an 18.5% rise to $17.66 billion posted in February.

Imports in March rose 37.3% year-on-year to $24.08 billion, also a record high, after increasing 25.9% to $15.95 billion in the preceding month.

Trade in March resulted in a surplus of $169.4 million, narrowing from a surplus of $1.71 billion in February.

Hsu Ray-lin, deputy statistics director at the finance ministry, attributed the record exports in March to growth in shipments to Hong Kong, China, Southeast Asian nations, South Korea and India. Import growth was mainly accounted for by Hong Kong, China, U.S., Japan and Europe, he said.

Hsu said higher crude oil prices as well as volumes boosted imports last month.

By destination, exports to Hong Kong and the mainland rose 23.3% overall in March to $10.14 billion, while those to the U.S. rose 7.7% to $2.63 billion. Exports to Europe reached $2.75 billion, up 17.5%. Shipments to countries in the Association of Southeast Asian Nations (ASEAN) hit $3.71 billion, gaining 37.8%.

Copyright Agence France-Presse, 2008

TAGS: Trade
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