Taiwan’s Oil Imports Increase in June as Manufacturing ReboundsYu-huay Sun and Chinmei Sung
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.