The volume of goods re-exports in the first two months fell 22.4%, while that of domestic exports dropped 45%. Taken together, the volume of total goods exports fell 23.2%, while the volume of goods imports dropped 22.6%.

Comparing the three-month period ending February with the preceding three months on a seasonally adjusted basis, the volume of goods re-exports fell 17.3%, while that of domestic exports dropped 21.8%. Taken together, the volume of total goods exports fell 17.4%, while the volume of goods imports fell 19%.

Price growth

In February, the prices of goods re-exports went up 2.7% on a year earlier, while those of domestic exports grew 2.6%. Taken together, the prices of total goods exports rose 2.7%. The prices of goods imports grew 1.2%.

Comparing the first two months over a year earlier, the prices of goods re-exports grew 2.9%, while those of domestic exports rose 3.1%. Taken together, the prices of total goods exports went up 2.9%. The prices of goods imports rose 1.5%.

The terms of trade index rose 1.5% in February over the same period last year, and 1.4% in the first two months of 2009.

The month saw the total export volume to the US and the United Kingdom dip 40% and 36.9% on a year earlier. The total export volume to Japan fell 28.2%, to Germany, 25%, and the Mainland, 10.9%.

The total export prices to all main destinations rose, including the US (+6.6%), Germany (+5.4%), the United Kingdom (+5.1%), Japan (+4.6%) and the Mainland (+0.9%).

The import volume from Japan dropped 36.9%. Double-digit falls were also recorded for the import volumes from Taiwan (-22.3%), Singapore (-18.4%), the Mainland (-11.3%) and the US (-10.9%).

The import prices from Taiwan rose 6.2%, the Mainland, 2.3%, and Japan, 1.7%. Those from the US fell 0.1% and from Singapore, 3.1%.