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Trade hits record high, boosted by regional demand

Exports and imports surged to their highest levels on record last month on an economic recovery, the Ministry of Finance said yesterday.

Demand for Taiwanese-made goods from Hong Kong, China, Southeast Asia and Europe were particularly strong, the ministry said.

Last month exports increased 17.2 percent from a year earlier to NT$486.61 billion (US$14.78 billion), while imports rose 29.2 percent to NT$464.22 billion, the ministry said.

That translated to a trade surplus of NT$22.52 billion for last month, according to the ministry.

The previous record for imports was NT$443.1 billion in July 2000, and for exports it was NT$461.2 billion last December, the ministry said.

In the past quarter, exports expanded 22.5 percent to NT$1.3 trillion, while imports increased 31.3 percent to NT$1.2 trillion, leaving a trade surplus of NT$65.4 billion, the ministry said.

Recovering US, Japanese and European economies underpinned the nation's export growth, the ministry said. Growth in the first-quarter trade figures outpaced the government's forecasts for the full year.

In February, the Directorate General of Budget, Accounting and Statistics said exports would improve 10.1 percent this year, while imports would rise 12.5 percent.

According to the ministry's statistics, the value of goods bound for China and Hong Kong combined totaled NT$173.7 billion last month, up 22.9 percent on year.

China and Hong Kong together accounted for nearly 36 percent of the nation's exports.
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