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Market Update: Taiwan Trade Surplus Widens More than Expected
Taiwan’s trade surplus widened to USD 6.16 billion in May of 2021, from USD 4.81 billion in the same month of the previous year and beat market expectations of USD 6.00 billion. Exports surged 38.6 percent to a record USD 37.41 billion, above forecasts of a 26 percent jump. Shipments rose primarily for machinery & electrical equipment (29.4 percent); base metals & products thereof (54.2 percent); plastics, rubber & goods thereof (74.7 percent); and chemicals (58.2 percent). Meantime, imports soared 40.9 percent to USD 31.25 billion, the seventh consecutive month of increases and largely surpassed estimates of a 25.7 percent climb. Purchases went up mostly for machines & electrical equipment (34.2 percent); mineral products (73.8 percent); chemicals (36.3 percent); and base metals & products thereof (60.8 percent). source: Ministry of Finance, R.O.C. [/s2If]
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