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Exports increase sharply in February year-on-year

TAIPEI--Taiwan's exports rose in February from a year earlier to offset a downturn in January, but imports continued to lag, driving the country's trade surplus higher for the year official data showed Friday.

Exports in February rose 7.9 percent year-on-year to US$21.29 billion, after falling 5.3 percent to US$24.31 billion in January, according to Ministry of Finance data released Friday.

For the first two months of the year, Taiwan's exports rose 0.4 percent year-on-year to US$45.60 billion.

Taken alone, monthly figures for January and February can be deceptive because the Lunar New Year holiday varies in length from year to year and can fall in either month, skewing year-to-year comparisons.

Imports in February rose 4.9 percent annually to US$19.72 billion, but were down 6.6 percent in the first two months at US$41.05 billion.

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