Taiwan: Exports continue to boom in April
Latest reading: In April, the trade balance was USD +14.4 billion, following a USD +21.3 billion figure in the previous month. Over the last 12 months, the trade balance summed to USD +192.7 billion.
Merchandise exports increased 39.0% in annual terms in April, coming on the back of a 61.8% increase in the prior month and well below market expectations. Still, exports growth remained historically high, supported by strong global demand and high prices for the country’s electronics—especially semiconductors. Once again, shipments to the U.S. rose the most. Merchandise imports rose 29.2% in year-on-year terms in April, following a 38.3% increase in the prior month.