Taiwan's year-on-year exports declined for the third consecutive month in May, according to figures released by the island's financial authorities Thursday.

Taiwan's exports reached $26.1 billion in May, down 6.3 percent from a year earlier, following a 6.4 percent and 3.2 percent year-on-year decline in April and March respectively.

Its exports to the Chinese mainland and Hong Kong in May posted a 10 percent decline from a year earlier, while those to the United States and Europe saw a 12.3 percent and 13.4 percent decrease year-on-year respectively.

The island's imports totaled $23.83 billion last month, down 10.5 percent year-on-year. The trade surplus was $2.26 billion in May, compared to $0.69 billion a month earlier.