Taiwan’s exports end 7 months of decline in June

Taipei, Taiwan's exports rose year-on-year in June for the first time in eight months as exports to the United States remained on the upswing, offsetting falls in exports to other major markets, the Ministry of Finance (MOF) said Monday.

The increase in exports to the U.S. market resulted in part from the return of Taiwanese companies operating in China to Taiwan to manufacture and directly ship goods to the U.S. to avoid higher tariffs on goods made in China, MOF Statistics Department director Tsai Mei-na said.

In June, Taiwan's exports rose 0.5 percent from a year earlier to US$28.39 billion after a 4.8 percent fall seen in May, data compiled by the MOF showed. The latest export figure was the highest level for June in the country's history.

On a month-on-month basis, Taiwan's outbound sales rose 2.4 percent, the data showed.

Taiwan's imports in June rose 6.6 percent from a year earlier to US$24.51 billion, resulting in a trade surplus of US$3.87 billion, down US$1.37 billion from the same period a year earlier, the MOF said.

In the second quarter, Taiwan's exports were down 2.6 percent from a year earlier to US$81.91 billion, and imports rose 0.9 percent to US$70.89 billion, resulting in a trade surplus of US$11.02 billion, down 20.2 percent year-on-year, the MOF added.

Source: Focus Taiwan News Channel