Taiwan's trade surplus widened to USD 5.37 billion in July 2020 from USD 3.61 billion in the same month of the previous year ana above market expectations of a USD 4.277 billion surplus. It was the largest trade surplus since August last year, as imports declined 6.8 percent to USD 22.83 billion mainly due to lower purchases of mineral products (-42.9 percent), in particular petroleum (-55.7 percent); and chemicals (-10 percent). Among major trading partners, imports fell from the US (-17.6 percent), Europe (-6.4 percent) and the Middle East (-33.4 percent). Exports rose 0.4 percent to USD 28.19 billion, boosted by higher sales of parts of electronic products (15.5 percent); and information, communication and audio-video products (18.5 percent). Exports increased to China & Hong Kong (12.7 percent) and the US (7.8 percent).
Balance of Trade in Taiwan averaged 1685.91 USD Million from 1981 until 2020, reaching an all time high of 6604.45 USD Million in September of 2017 and a record low of -847.44 USD Million in February of 2006. This page provides - Taiwan Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Taiwan Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020.
Balance of Trade in Taiwan is expected to be 2600.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Taiwan to stand at 3950.00 in 12 months time. In the long-term, the Taiwan Balance of Trade is projected to trend around 3400.00 USD Million in 2021 and 3000.00 USD Million in 2022, according to our econometric models.