RTTNews - Taiwan's exports fell 24.4% year-on-year to $17.27 billion in July, the Ministry of Finance said Friday. Economists' had forecast a decline of 21.7% in July after a fall of 30.4% in June. Exports has been falling since September 2008.

On the other hand, imports dropped 34.1% to $15.24 billion after a 33.5% decline in June and more than the expected fall of 29%. Imports dropped for the tenth month in a row.

The trade balance was surplus of $2.03 billion in July, up from $1.76 billion surplus in June.

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