Taiwanese steel exports surpass imports

Taiwanese steel exports surpass imports

According to the statistics released by Directorate General of Budget, Accounting and Statistics (DGBAS), Taiwan's steel exports have been growing each year and have surpassed its imports since 1996. The outbound shipments indicate rise against the inbound shipments. The analysts attribute the increase to strong demand mainly fuelled by China. Moreover, the analysts state that Taiwanese steel producers, who mainly depend on imports, started to report improved financial results due to appreciation of New Taiwan Dollar (NTD).