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Exports increase, MOF says

The nation's exports last month increased 4.5 percent from a year ago to US$11.64 billion, the Ministry of Finance said in a statement Thursday. The figure was up US$11.61 billion in the previous month, it said.

"Exports to China would have been even greater if it wasn't for SARS," said Hsu Kuo-chung (許國忠), statistics chief at the ministry. "We expect export growth to improve during the rest of this year."

Imports of last month dropped 2.6 percent from the previous year to US$10.37 billion, leaving a trade surplus for July of US$1.27 billion, the ministry said.

"The main boost is China, which is still growing rapidly," said Parker Wu, an economist at Taipei-based Shinkong Investment Trust Co (新光投信).

Chinese demand for Taiwan's goods recover following the SARS outbreak, as BenQ Corp (明基電通), AU Optronics Corp (友達光電) and other companies have shipped more handsets, flat-panel displays and other electronic components to their Chinese factories to meet rising demand there.

Taiwan's sales to China more than doubled to US$1.8 billion last month, while shipments to Hong Kong fell 19 percent to US$2.1 billion. Many goods headed for China go through Hong Kong because of restrictions on trade between China and Taiwan.

Exports of computer chips and other electronics items, which make up the biggest share of Taiwan's overseas sales, rose 13 percent. Sales of mobile phones and other telecommunications goods fell a fifth, the ministry said.

Taiwan's exports to the US, the nation's second-biggest export market, fell 11 percent to US$2.2 billion. Shipments to Japan fell 3.7 percent to US$985 million. Sales to Europe rose 12.7 percent to US$1.5 billion.

For the first half of the year, Taiwan has shipped US$66.83 billion worth of goods overseas, up 7.3 percent from the same period of last year. Growth for this year's exports and imports is expected at 6.82 percent and 5.83 percent, respectively, the Academia Sinica forecast last month.
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