Taiwan, China, Germany Report Shifting Trade Surpluses

Taiwan posted a record trade surplus of USD 14.34 billion in July 2025, nearly tripling from a year earlier due to booming tech exports amid the global AI surge. Taiwan's trade surplus with the US reached nearly USD 70 billion in the first seven months of 2025, already exceeding the full-year 2024 record. Exports to the US, ASEAN, and China all grew significantly, with imports also rising, mainly in electronic parts and machinery. Germany's trade surplus narrowed to EUR 14.9 billion in June 2025, its smallest in eight months, as imports outpaced exports. China’s trade surplus widened to USD 98.24 billion in July on strong exports and a surprise import increase, although it was still the smallest surplus since April and below expectations. Meanwhile, Hong Kong’s foreign exchange reserves fell to a three-month low, indicating tighter financial conditions.