January exports soar on demand for electronics

The country's exports unexpectedly jumped 17.9 percent last month on demand from China for electronics.

Overseas shipments rose to US$19.85 billion, the Ministry of Finance said in a statement yesterday. It was nearly double the previous month's 9.1 percent gain.

"Overseas demand showed better-than-expected resilience," said Cheng Cheng-mount (鄭貞茂), chief economist at Citibank Taiwan Ltd.

The government has forecasted overseas shipments will grow 6.1 percent this year, less than half the pace last year. An economic slowdown in the US, Taiwan's No. 2 export market, could cut demand for flat panels, personal computers and semiconductors.

Taiwan's imports rose 23.8 percent last month from a year earlier after gaining 16.4 percent the previous month. The trade surplus for the month was $1.89 billion, the government said.

Exports of computer chips and other electronic parts increased 15 percent last month from a year earlier to US$5.3 billion, after climbing 11.7 percent in the previous month.

Exports of information technology and telecommunications products fell 19.3 percent after sliding 15 percent in December.

Taoyuan-based Quanta Computer Inc (廣達電腦), the world's largest maker of laptops, this week reported a 52 percent increase in last month's sales year-on-year.

Chi Mei Optoelectronics Corp (奇美電子), the country's second-largest maker of flat-panel displays, yesterday forecast sales could fall 15 percent in the first quarter from the previous three months.

Economic growth will slow to 4.14 percent this year from an estimated 4.39 percent last year, the government forecast in November.

Sales to the US gained 2.2 percent last month from a year earlier, the finance ministry said today. Exports to Hong Kong and China jumped 23.2 percent last month.

Exports to Japan gained 16.1 percent last month from a year earlier after rising 5.7 percent in the previous month and those to Europe climbed 12.5 percent after rising 22.3 percent in December, the finance ministry said.