Taiwan's trade surplus hits 3-month high in March, exports gain for sixth straight month

Taiwan's trade surplus hits 3-month high in March, data from the Finance Ministry showed Monday. Taiwan's trade surplus increased to $3.93 billion from $3.36 billion in the previous month. Compared to a year-ago period, the surplus declined from $4.53 billion seen in March 2016.

Taiwan's trade surplus rose more than the expectations at $3.87 billion as Taiwan's exports continued the tech-fueled surge. Taiwan's exports edged higher for a sixth straight month, supported by continued strength in overseas demand for the island's electronics components.

Exports grew 13.2 percent from a year earlier to US$25.71 billion, largely on the back of gains in semiconductor shipments, the Ministry of Finance said Monday. This was also slower than the expected 16.5 percent. Imports rose 19.8 percent following February's 42.1 percent expansion, below economists' forecast for a 25 percent rise for March. On a monthly basis, exports advanced 13.5 percent and imports climbed 12.8 percent in March.

Taiwan's exports posted strong gains in the first quarter on solid demand from China and the United States, and analysts expect the momentum could continue into the second quarter. While the latest trade data is solid, uncertainty about the trade policies of U.S. President Donald Trump remains for Taiwan's export-reliant economy.