Taiwan: Merchandise exports gain steam in October
Latest reading: Merchandise exports rose 8.4% over the same month last year in October (September: +4.5% year-on-year). The rise was largely driven by a surge in IT products linked to burgeoning global demand for AI applications. Looking at key trading partners, sales to the U.S. and ASEAN boomed, while those to China and Japan declined. Meanwhile, merchandise imports rose 6.5% on an annual basis in October (September: +17.3% yoy), marking the weakest result since May 2024.
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 6.9 billion surplus in October (September 2024: USD 7.1 billion surplus; October 2023: USD 5.8 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 87.4 billion surplus in October, compared to the USD 86.3 billion surplus in September.