Exports rose 10.6 percent last month year-on-year to an all time-high of US$22.22 billion, mainly on increased Asian demand, the Ministry of Finance said yesterday.
Orders from Hong Kong, China and some Southeast Asian nations helped power the performance. In August, exports grew 10.5 percent to US$21.40 billion.
Last month's figure was the fourth consecutive month a new record was set, the ministry said.
"China and other emerging markets in Asia will continue to offset weakening demand in Europe and the US in the fourth quarter," Tia Lin, an economist at First Taisec Securities (
Exports to China and Hong Kong combined rose 19.7 percent last month, faster than August's 14.8 percent.
The statistics also showed shipments to Southeast Asia rose 19.1 percent last month, after climbing 28.4 percent in August. US-bound goods fell 8.3 percent, following an 11.5 percent drop the previous month, while exports to Europe rose 10.8 percent, after August's 8.5 percent growth.
Meanwhile, imports rose 10.5 percent year-on-year to US$19.07 billion, against a 0.3 percent decline to US$18.10 billion in the preceding month, the ministry's statistics showed.
Imports for the month were the second-highest on record, surpassed only by the US$20.73 billion recorded in July.
The trade surplus stood at US$3.15 billion last month, narrowing from US$3.30 billion in August, the statistics showed.
For the first nine months of the year, the trade surplus stood at US$17.44 billion, up 28.1 percent from the same period a year earlier.
Exports in the nine-month period rose 8.3 percent to US$178.74 billion, while imports rose 6.5 percent to US$161.30 billion.
In other developments, Premier Chang Chun-hsiung (
Chang made the estimate during a speech at a ceremony marking the inauguration of four new products by the Taiwan Futures Exchange -- GRETAI Securities Market stock index futures; GRETAI Securities Market stock index options; non-electronics, non-finance sub-index futures as well as non-electronics, non-finance sub-index options.
He said Taiwan's overall economic growth could top at least 4.58 percent this year with the stock market's help. The market has continued to attract foreign funds that have reached a seven-year high so far this year.
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) is expected to share his views about the artificial intelligence (AI) industry’s prospects during his speech at the company’s 37th anniversary ceremony, as AI servers have become a new growth engine for the equipment manufacturing service provider. Lam’s speech is much anticipated, as Quanta has risen as one of the world’s major AI server suppliers. The company reported a 30 percent year-on-year growth in consolidated revenue to NT$1.41 trillion (US$43.35 billion) last year, thanks to fast-growing demand for servers, especially those with AI capabilities. The company told investors in November last year that
Intel Corp has named Tasha Chuang (莊蓓瑜) to lead Intel Taiwan in a bid to reinforce relations between the company and its Taiwanese partners. The appointment of Chuang as general manager for Intel Taiwan takes effect on Thursday, the firm said in a statement yesterday. Chuang is to lead her team in Taiwan to pursue product development and sales growth in an effort to reinforce the company’s ties with its partners and clients, Intel said. Chuang was previously in charge of managing Intel’s ties with leading Taiwanese PC brand Asustek Computer Inc (華碩), which included helping Asustek strengthen its global businesses, the company
Taiwanese suppliers to Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) are expected to follow the contract chipmaker’s step to invest in the US, but their relocation may be seven to eight years away, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. When asked by opposition Chinese Nationalist Party (KMT) Legislator Niu Hsu-ting (牛煦庭) in the legislature about growing concerns that TSMC’s huge investments in the US will prompt its suppliers to follow suit, Kuo said based on the chipmaker’s current limited production volume, it is unlikely to lead its supply chain to go there for now. “Unless TSMC completes its planned six
TikTok abounds with viral videos accusing prestigious brands of secretly manufacturing luxury goods in China so they can be sold at cut prices. However, while these “revelations” are spurious, behind them lurks a well-oiled machine for selling counterfeit goods that is making the most of the confusion surrounding trade tariffs. Chinese content creators who portray themselves as workers or subcontractors in the luxury goods business claim that Beijing has lifted confidentiality clauses on local subcontractors as a way to respond to the huge hike in customs duties imposed on China by US President Donald Trump. They say this Chinese decision, of which Agence
RSS