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Exports rise by 13 percent in August

Exports rose last month at their fastest pace in six months, as companies shipped more electronic components to factories in China.

Overseas sales rose 13.0 percent from a year earlier to US$12.3 billion after growing 4.5 percent in July, the Ministry of Finance reported yesterday.

Meanwhile, imports rose 14.3 percent to US$10.4 billion, leaving a trade surplus for last month of US$1.9 billion, the ministry said. Imports fell 2.6 percent in July.

Hsu Kuo-chung (許國忠), statistics chief at the ministry, attributed the increased exports last month to the growing shipments to China, South Korea, Europe and Southeast Asia.

Sales to China, for example, more than doubled to US$2.1 billion last month, while shipments to Hong Kong fell 12 percent to US$2.3 billion and those to Europe increased 13 percent to US$1.6 billion, according to the ministry.

But exports to the US, Taiwan's second-biggest export market, have continued to decline since March due to weak demand for Taiwan's computer and communications products, Hsu said. Exports to the US fell 2.7 percent to US$2.2 billion.

"But we expect exports to the US to improve during the rest of this year," he added.

With the global recovery expected to pick up pace, the economy likely will see exports grow nearly 10 percent on year during the last four months ofthe year, Hsu said.
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