TAIPEI -- Both Taiwan's exports and imports registered double-digit growth in January, mostly due to global economic recovery and demand ahead of the Chinese Lunar New Year holiday, according to a report by the Taiwan Institute of Economic Research (TIER) Monday.

The report showed that Taiwan's exports rose 15.33 percent from a year earlier in January, growing at a double-digit pace for three consecutive months.

Driven by the demand for consumer goods ahead of the Chinese Lunar New Year, Taiwan's imports in January increased 23.3 percent compared with the same period last year.

Taiwan's trade surplus in January stood at $2.42 billion, down 30.8 percent from the same period last year, according to the TIER report.

As the global economy's growth momentum will continue in 2018, Taiwan's information and communications industry, as well as the manufacturing, service and construction sectors, are optimistic about the economic outlook for the coming six months, the report showed.