Exports from Taiwan dropped 13.3% year-on-year to USD 35.96 billion in April 2023, cooling from a 19.1% plunge in the previous month and less than market forecasts of an 18.15% fall. Most leading commodities continued to decline, namely parts of electronic products (-8.6%), base metals (-25.2%), machinery (-13%) and plastics & rubbers (-28.6%). On the other hand, shipments for information, communication and audio-video products grew (5.4%). Among major destinations, exports decreased the most to China & Hong Kong (-22%), followed by the USA (-10.3%), ASEAN countries (-7.1%) and Europe (-3.6%); while demand went up from Japan (19.8%). For the first four months of the year, exports were 17.7% lower than the same period last year.
Imports to Taiwan slipped 20.2% year-on-year to USD 29.2 billion in April 2023, edging lower from a 20.1% slump in the previous month and more than market estimates of an 18% fall. It was the largest drop since February 2019 due to lower purchases for all leading commodities, particularly chemicals (-33.2%), base metals (-31.7%) and parts of electronic products (-26%). On trade partners, arrivals declined the most to ASEAN countries (-26.1%), followed by Japan (-25.3%), China & Hong Kong (-23.4%), the Middle East (-17.1%), USA (-12.8%) and Europe (-7.6%). Considering the first four months of the year, imports went down by 16.9% compared to the same period a year earlier.
source: Ministry of Finance, R.O.C.