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Taiwan Exports, Imports Growth Tops Expectations

Taiwan's exports and imports increased more than expected in December, the Ministry of Finance reported Tuesday.

Exports increased 4 percent on year, faster than the 3.3 percent increase in November and the expected growth of 3.1 percent. This was the second consecutive increase.

At the same time, imports logged a double-digit growth of 13.9 percent after expanding 5.8 percent. Imports were expected to grow only 5 percent. This was the biggest expansion since October 2018, when imports gained 18.2 percent.

As a result, the trade surplus narrowed to $2.5 billion from $4.27 billion in November. The surplus totaled $4.67 billion in the same period last year.

Imports from Europe jumped 46.7 percent and that from Mainland China and Hong Kong increased 15.5 percent in December, data showed.

In 2019, exports contracted 1.4 percent, while imports rose 0.4 percent. The trade surplus totaled $43.48 billion.

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