Taiwan: Merchandise trade surplus widens in July
Latest reading: In July, the trade balance was USD +17.2 billion, following a USD +12.2 billion reading in the prior month. Over the last 12 months, the trade balance summed to USD +201.0 billion.
Merchandise exports rose 32.9% in year-on-year terms in July, coming on the back of a 40.3% increase in the previous month. The July reading was below market expectations but still strong by historical standards, boosted by strong global demand for the country’s AI products. Merchandise imports were up 37.4% in annual terms in July, coming on the back of 51.8% growth in the prior month and driven by higher imports of fuel and tech inputs.