TAIPEI: Taiwan’s exports rose in January from the same month a year earlier on gains in overseas shipments of electronic products, precision instruments and machinery, according to customs statistics released by the Ministry of Finance here the other day.
The country had US$25.12 billion in exports in January, 3.4 percent higher than in January 2014 but 2.1 percent lower than in December 2014.
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Taiwan’s imports, meanwhile, were down 4.8 percent from the same period of 2014 at US$20.32 billion and down 4.2 percent from the previous month, the figures showed.
The monthly trade surplus was up 62.7 percent year-on-year at NT$4.8 billion.
Electronic product exports paced the gains in January, rising 11.9 percent from a year earlier to US$8.35 billion, and machinery exports were up 18.5 percent year-on-year at US$1.78 billion.
But due to slumping oil prices, lower mineral and chemical product exports dragged down overall exports in the month by 3.75 percentage points.
Mineral product exports, primarily gasoline, fell 48.4 percent in January from a year earlier to US$1.02 billion, the lowest total since October 2011.
Chemical exports were down 9.8 percent at US$1.68 billion.
In terms of major export markets, mainland China and Hong Kong remained Taiwan’s biggest export market in January, accounting for 41.2 percent of the country’s overseas shipments.
They were followed by the six biggest economies of the Association of Southeast Asian Nations (Singapore, Thailand, Malaysia, Indonesia, the Philippines and Vietnam) at 16.8 percent, the United States at 11.5 percent and Europe at 8.4 percent.
Shipments to mainland China and Hong Kong rose 11.8 percent during the month from a year earlier to US$10.34 billion, and were 8.1 percent higher to the U.S. at US$2.88 billion during the month.
But exports to the six ASEAN countries were down 7.5 percent in January from a year earlier at US$4.21 billion, and overseas shipments to Europe tumbled 12.6 percent during the month to US$2.12 billion.
