Taiwan’s Oil Imports Increase in June as Manufacturing Rebounds

July 8 (Bloomberg) -- Taiwan, which imports almost all of its crude requirements, purchased more of the commodity last month as manufacturing rebounded.

June shipments rose 12 percent from a year earlier to 27.4 million barrels, according to the Finance Ministry in Taipei. The island’s oil-import bill climbed 3.7 percent to $2.81 billion, it said in a statement today.

The HSBC Manufacturing Purchasing Managers’ Index rose to 49.5 last month, from 47.1 in May, according to a Markit Economics survey released on July 1. This means fewer manufacturers said conditions deteriorated.

Output from electricity and gas suppliers rose 21 percent in May from a year earlier, Economic Affairs Ministry data showed on June 24.

To contact the reporters on this story: Yu-huay Sun in Taipei at ysun7@bloomberg.net or Chinmei Sung in Taipei csung4@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net