Exports reach all-time monthly high for March in Taiwan

2018/04/12

Taiwan’s exports climbed 16.7 percent year on year to an all-time monthly high of US$29.99 billion in March, buoyed by stronger economic conditions at home and abroad, according to the Ministry of Finance.
 
 The result sealed a strong finish of US$79.74 billion for the first quarter of 2018, up 10.6 percent from the same time last year. It also represents the seventh consecutive quarter of growth and second-longest period of economic expansion since 1998.
 
 Surging demand in Taiwan’s key sectors like electronic components and smart machinery is largely responsible for this healthy state of affairs, the MOF said April 9, citing a record US$9.3 billion in information and communication technology shipments for last month.
 
 Exports in six of Taiwan’s nine major sectors also reached double-digit growth year on year for March. Chemicals rose 32.9 percent to US$2.04 billion; machinery, 27.2 percent to US$2.43 billion; electronic components, 21.5 percent to US$10.54 billion; basic metals, 18.6 percent to US$2.81 billion; plastic and related products, 16.9 percent to US$2.21 billion; and transportation equipment, 14.4 percent to US$954 million.

 Taiwan’s top export destinations for March remain mainland China and Hong Kong, up 30.9 percent from the same time last year to US$13.43 billion, followed by Association of Southeast Asian Nations member states, 1.6 percent to US$5.01 billion; and the U.S., 4.3 percent to US$3.13 billion.
 
 Looking ahead, the MOF said it expected more opportunities for Taiwan exports in potential-laden fields such as automotive electronics, biometrics and Internet of Things. But it cautioned that the growth trend could be impacted by uncertainties stemming from the recent aluminum and steel tariffs announced by the U.S., as well as incidences of trade protectionism in leading economies.

Source: Taiwan Today (https://taiwantoday.tw/news.php?unit=6&post=132485)