Taiwan exports up 6 consecutive months in July

2014-08-11

Taiwan’s exports climbed for the sixth consecutive month year on year to US$26.77 billion in July, up 5.8 percent, according to the Ministry of Finance Aug. 7.

Over the period, imports grew 9.5 percent to US$24.16 billion, producing a trade surplus of US$2.61 billion, down 19.4 percent from the year before.

Electronics were a strong contributor to export growth, the MOF said, reaching US$8.48 billion, up 16.7 percent compared with July last year.

In terms of the breakdown by product, exports of integrated circuits grew US$1.05 billion or 20.4 percent for the period. Bipolar semiconductors—including light-emitting diodes, or LEDs—and storage media, showed strong gains, up 16.8 percent and 14.2 percent, respectively.

Exports of mineral products and chemicals also increased US$280 million, or 17.8 percent, and US$220 million, or 13.3 percent, over the period.

By destination, exports to mainland China including Hong Kong grew 6.5 percent year on year to US$10.52 billion in July, and shipments to the six main Association of Southeast Asian Nations economies were US$5.06 billion, up 9 percent. Exports to the U.S. and EU were US$2.93 billion and US$2.56 billion, increasing 2.4 percent and 8.9 percent, respectively.

For the first seven months of the year, shipments stood at US$180.15 billion, up 2.5 percent versus the previous year, with imports increasing 2.2 percent to US$161.36 billion. Balance of trade grew 4.9 percent to US$18.78 billion.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=220448&CtNode=413)