Taiwan's steel import and export value decreased

Taiwan exported approximately US$1.54 billion of steel in March, up 7.4 percent m-o-m and down 26.7 percent y-o-y. As exports in February were the second lowest level in the last 26 months compared to last December, the monthly recovery was mainly due to the low base.

In the first quarter, exports decreased by 27.7% compared to the same period of the previous year and amounted to US$ 4.45 billion. The USA remained the largest consumer at 24.7%, followed by Japan with 8.8% and China with 5.1%.

Import value increased by 31.1% compared to February, reaching an eight-month high of US$1.16 billion in March, but down 9.4% y-o-y.

Imports decreased 24.2% y-o-y to US$2.87 billion in the first quarter, after hitting the lowest level in several months at the start of the year. Indonesia and Japan continued to dominate the market.