FX.co ★ Taiwan Imports Rise 14.6% in October

In October, Taiwan's imports rose by 14.6% compared to the same period last year, reaching a value of USD 39.22 billion. This growth represents a slowdown from the 25.1% increase observed in the prior month. The surge in imports was primarily fueled by substantial upticks in purchases of electronic components, which saw a 22.4% rise, information and audio-visual products, which skyrocketed by 90.0%, and machinery, which increased by 17.1%. These gains were somewhat tempered by a 12.0% decrease in the acquisition of mineral products. Import growth was particularly robust from ASEAN nations, marking a 21.8% increase, followed by the United States at 17.7% and Korea at 12.1%, whereas imports from Europe declined by 8.1%. Over the January to October period, Taiwan's trade surplus reached USD 121.82 billion, with exports increasing by 31.8% and imports growing by 21.3% compared to the previous year.