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Taiwan Exports Decline Less Than Expected

Taiwan's exports fell in March, but less than expected by economists, data from the Ministry of Finance showed Monday.

Exports fell 3.2 percent year-on-year to $26.34 billion in March compared with expectations for a 4.5 percent drop. In February, shipments were 10.3 percent higher than a year earlier.

Meanwhile, the country's imports fell 5.8 percent to $23.99 billion after a 1.3 percent gain in the previous month. Economists had forecast a 6.8 percent drop in imports during the month.

The trade balance was in a surplus of $2.36 billion, slightly less than $2.83 billion in February but higher than $1.76 billion in March last year.

Shipments to China and Hong Kong combined fell 7 percent over the last year, and exports to the U.S. dropped 8 percent. Demand from Japan also waned compared to last year with exports falling 3.6 percent. Europe saw shipments from Taiwan falling 11.6 percent year-on-year.

However, there was a 5.6 percent jump in exports to the Asean nations, the ministry said.

by RTTNews Staff Writer

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