Taiwan Exports Fall Unexpectedly In July

Taiwan’s exports declined in July after rising in the previous month, figures from the Finance Ministry showed on Wednesday.

Exports fell 0.5 percent year-on-year in July, reversing a 0.5 percent rise in June. Economists had expected a 1.0 percent rise.

Imports dropped 5.4 percent in July, after a 6.6 percent increase in the previous month. Economists had expected a 1.0 percent rise.

The trade surplus rose 54.6 percent from a year ago to US$3.56 billion in July. Economists had expected a surplus of US$3.28 billion.

Exports of base metals and articles of base metal, machinery, plastics and rubber declined.

While, imports of mineral products, machinery, chemicals, base metals and articles of base metal fell in July.

Exports to U.S.A. increased in July, while those to Mainland China and Hong Kong, ASEAN, Japan and Europe decreased.

In the January to July period, exports fell 3.0 percent from a year ago and imports fell 0.8 percent.

The material has been provided by InstaForex Company – www.instaforex.com