(RTTNews) - Taiwan recorded a trade surplus of US$1.86 billion in December, higher than the surplus of US$1.52 billion in November, a report by the Ministry of Finance said Wednesday. The trade surplus also came in higher than economists’ expectations of a surplus of US$1.42 billion.

Total exports slipped 41.9% year-on-year in December, to US$13.64 billion. Imports dropped 44.6% to US$11.78 billion. Economists expected exports to fall only 30%, and imports to decline 28.6%.

For the twelve months of the year, there was a trade surplus of US$14.83 billion, a decrease from the surplus of US$12.59 billion in the same period last year. Total exports rose 3.6%, while total imports increased 9.8%.

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