Published:
Taiwan exports surged 21.8% in January
Thanks to the perfect timing of CNY.
According to BBVA, exports increased in January by 21.8% y/y (consensus: 23.2%), from 9.0% y/y in December, due in part to favorable base effects from the timing of the CNY this year.
Exports to China and Hong Kong increased notably, by 34.8% and 39.2% y/y respectively, driven by a surge in demand for electronics. Demand from ASEAN also remained resilient.
"Though the data will need to be combined with February data before drawing any firm conclusions, the outturn is yet another encouraging sign that the region’s economies are picking up after bottoming out in Q3 last year," BBVA said.
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