Taiwan: Merchandise exports gain steam in November
Latest reading: Merchandise exports increased 9.7% on an annual basis in November (October: +8.4% year-on-year). The improvement was spurred by rising IT exports amid stronger global demand for AI applications. Looking at key trading partners, sales to Korea gained significant traction, while those to China rebounded. Meanwhile, merchandise imports jumped 19.8% in annual terms in November (October: +6.5% yoy), marking the strongest reading since June 2024.
As a result, the merchandise trade balance improved from the previous month, recording a USD 7.9 billion surplus in November (October 2024: USD 6.9 billion surplus; November 2023: USD 9.8 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 85.5 billion surplus in November, compared to the USD 87.4 billion surplus in October.