Taiwan Trade Surplus Grows Sharply In October

(RTTNews) - Taiwan's foreign trade surplus increased notably in October from a year ago as exports grew much faster than imports, preliminary figures from the Ministry of Finance revealed on Friday.

The trade surplus rose to $22.58 billion in October from $7.1 billion in the corresponding month last year. The surplus also grew from $12.4 billion in September.

Exports jumped 49.7 percent year-over-year in October, and imports climbed by 14.6 percent.

Shipments of information, communication, and audio-video products surged by 138.2 percent, and outflows of parts of electronic products rose by 27.7 percent. Exports of machinery were 7.7 percent higher compared to last year.

Meanwhile, imports of petroleum showed an annual decline of 21.1 percent.