Exports rose to a record last month as a weaker currency made the nation's semiconductors, cellphones and laptop computers cheaper for foreign buyers.
Shipments rose a more-than-expected 16.6 percent to US$17.93 billion from a year earlier, after gaining 8.5 percent in September, the Ministry of Finance said yesterday in a statement.
Imports rose 9 percent to a record US$16.39 billion, leaving a trade surplus of US$1.54 billion for the month, the ministry said.
Rising exports were reflected in higher sales and factory utilization at companies such as Acer Inc and Taiwan Semiconductor Manufacturing Co (TSMC,
"Given the widening interest rate differentials in favor of the US dollar, the Taiwan dollar is expected to remain steady at current levels through the first quarter of 2006 to reinforce the recovery in exports," William Belchere, Asian economist at Macquarie Securities Ltd said in a report before the trade figures were released.
The New Taiwan dollar fell about 7.5 percent against the US dollar in the past six months. South Korea, which like Taiwan counts electronics as its No.1 export, saw its currency drop about 5 percent in the same period.
Acer, the world's fourth-biggest maker of personal computers, said consolidated sales for last month rose 59 percent to NT$37.7 billion (US$1.1 billion) to a monthly record, from a year earlier.
The computer maker generates about 90 percent of its revenue in overseas markets such as the US and Europe.
TSMC said on Oct. 27 it will use all of its manufacturing capacity and post record sales this quarter.
"Strong demand from Hong Kong, China and Japan contributed to the jump in exports last month," Hsu Kuo-chung (
"Sales of electronics products continue to pick-up," Hsu said.
The trade surplus for the year may reach US$4 billion, he said.
Exports of chips and other electronic parts rose 24.5 percent to US$4.73 billion after increasing 15 percent in September.
Exports of information technology and telecommunications products fell 6.7 percent to US$944.6 million after sliding 13 percent in September.
Shipments to Japan increased 18.8 percent to US$1.32 billion after gaining 9 percent in the previous month, the ministry said.
Sales to Europe increased 1.5 percent to US$2.13 billion, after falling 0.1 percent in September.
Sales to China and Hong Kong increased 25.1 percent to US$6.94 billion after rising 16.4 percent in September.
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