Taiwan’s Oil Imports Increase in June as Manufacturing Rebounds

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.

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