Taiwan trade surplus shrinks but exports up

Taiwan's trade surplus nearly halved in December to US$2.22 billion from a month earlier but exports still hit a record high, official data showed yesterday.

The surplus was 47.7 percent lower than November's US$4.25 billion, according to Ministry of Finance data.

Exports rose at an annual rate of 19.8 percent in December to a record high of US$23.48 billion, but imports rose 27.5 percent to an all-time high of US$21.26 billion.

The growth in exports was due largely to higher demand from Southeast Asia, China, the U.S. and South Korea, the Ministry of Finance said.

The 2007 trade surplus stood at US$27.37 billion, up 28.4 percent from the year before.

Exports over the year rose 10.1 percent to US$246.72 billion, while imports rose 8.2 percent to US$219.35 billion.