Taiwan’s June exports drop monthly
The Ministry of Finance (MoF) said
Taiwan's exports amounted to $14.4 billion in June, up by 24.5% on annual basis. Exports were recorded as $15.7 billion in May with an increase of 39.5%.
In the same month, imports rose by 42.2% annually to $14.6 billion. Accordingly, trade balance reported a $202.6 million deficit against a trade surplus of $1.3 billion registered in the same period of previous year.
Taiwan recorded its first trade deficit in the last four years in June as high oil prices increased imports and demand coming from
China slowed down.
In the first six months of the year, trade surplus reached $3.9 billion with a drop of 49.6% compared to the corresponding period of last year. In the mentioned period, exports surged by 25.7% to $83.9 billion while imports were recorded as $80.1 billion, up by 35.6%.