Exports and imports last month shrank year-on-year as the nine-day Lunar New Year holiday trimmed the number of working days to just 14, the Ministry of Finance said yesterday.
There were 19 working days in February last year.
Overseas sales dropped 3.6 percent to US$14.9 billion, largely due to a decline in exports to China and Hong Kong. Exports to those two places fell 7.6 percent, while exports to Japan and ASEAN countries also contracted 8.3 percent and 0.9 percent respectively.
Imports last month nose-dived 21.1 percent year-on-year to US$12.67 billion.
That was the biggest drop since the 28.2 percent decrease recorded in the same period in 2002, said Lee Li-shu (
Imports from the US, Japan, Europe and ASEAN countries declined by more than 15 percent, while those from China and Hong Kong also edged down 0.7 percent, tallies showed.
Although trade volume went down, the nation recorded a trade surplus of US$2.23 billion last month, the 12th month in a row it saw such strength in exports.
"Taiwan's overseas trade remains stable," Lee said.
He said that exports and imports during the first two months of the year grew 7.6 percent and 0.2 percent respectively, year-on-year, after adjusting for the Lunar New Year holiday.
The ministry said the price of imported crude oil per barrel dropped 3.9 percent in the first two months year-on-year. In terms of dollar value, crude imports declined 16.5 percent to US$3.37 billion, it said.
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