RIYADH: Taiwanese exports rose 21.3 percent year-on-year last month, fueled by demand from China and other emerging markets in Asia while trade with the US continued to decline, a report released by Taiwan’s Ministry of Finance in Tapie said yesterday. The report showed that imports accelerated at a quicker pace, or 22.5 percent, last month.
“The export volume hit $24.3 billion last month, the highest monthly showing in history,” said Hsu Ray-lin, deputy director of the ministry’s Department of Statistics. “Imports amounted to $22.86 billion in the same period, leaving a trade surplus of $1.49 billion, up 4.9 percent from a year earlier.”
Hsu said the numbers showed the nation continued to enjoy gradual and steady growth in foreign trade despite the economic slowdown in the US, Taiwan’s second-largest trade partner. Shipments to Hong Kong and China rose 25.5 percent, up from 23.5 percent a month earlier, while exports to India soared 114.7 percent, more than double the gain of 45.9 percent in May, the report said, adding that shipments destined for Europe also jumped 24.2 percent. Hsu said trade with these markets more than offset falling demand from the US, which has yet to recover from the subprime mortgage crisis.