Merchandise trade surplus increases in December

Latest reading: In December, the trade balance was USD +12.2 billion, following a USD +9.5 billion figure in the previous month. Over the last 12 months, the trade balance summed to USD +78.0 billion. This marked the largest surplus since September 2017. Exports increased 13.3% in annual terms in December, following a 8.0% rise in the previous month. December's reading marked the seventh consecutive month of growth and was the strongest since July 2024. The acceleration was spearheaded by semiconductor shipments—the country’s top export item—which soared 43.2% to an all-time monthly high of USD 20.77 billion. Imports increased 4.6% in annual terms in December, following a 1.1% rise in the prior month.

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