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October exports, imports up: Finance Ministry

October exports, imports up: Finance Ministry

Taipei, Nov. 7 (CNA) Taiwan saw both its exports and imports increase in October amid reports of weakening global demand, according to customs statistics released by the Finance Ministry Monday. Exports totaled US$27.03 billion, representing a growth of 9.8 percent from September, or up 11.7 percent from the same month of last year, while imports reached US$23.71 billion, up 3.8 percent from the previous month, or 11.8 percent year-on-year. For the first 10 months of this year, exports hit US$259.6 billion, representing a 14.7 percent rise from the same period of last year, while imports stood at US$238.5 billion, an increase of 16.3 percent year-on-year. Both export and import figures for the 10-month period were record highs, according to the statistics. The trade surplus, however, was US$3.32 billion for October, up 11.1 percent year-on-year, and reached US$21.16 billion for the January-October period, down 1.0 percent year-on-year. Electronic products took the lion's share of exports for both October and the January-October period followed by base metals and their products, rubber and plastic products and information and communications products. Mineral products were the the main import items for October and the 10-month period, followed by electronic goods and crude oil. Mainland China (including Hong Kong) was the top market for Taiwanese goods, accounting for 40.4 percent of the country's exports for the January-October period. It was followed by the Association of Southeast Asian Nations (ASEAN) region (16.2 percent), the United States (US$11.8 percent), Europe (10.2 percent) and Japan (5.9 percent) Japan was largest source of Taiwan's imports during the 10 months, providing 18.6 percent of the country's total imported goods. This was followed by China and Hong Kong (16.1 percent), ASEAN (11.6 percent), Europe (10.4 percent) and the U.S. (9.1 percent). As a result, Taiwan recorded a trade surplus of US$66.47 billion with China and Hong Kong in the 10-month period, while suffering a deficit of US$29.05 billion from Japan. (By Feng Chao and Bear Lee)


Updated : 2021-02-27 03:27 GMT+08:00