Taiwan’s exports last month rose annually increase for the fourth consecutive month, and reached their highest quarterly level in three years in the second quarter, the Ministry of Finance said yesterday.
Exports totaled US$26.8 billion last month, up 0.5 percent from a month earlier and 1.2 percent from a year earlier, the ministry said in its monthly report.
The mild year-on-year growth last month meant outbound shipments during the April-to-June period totaled US$80.07 billion, an increase of 2.9 percent from a year earlier and the highest level since the same period of 2011, the report said.
“Electronics remained the key driver for Taiwanese exports last month, with shipments of basic metals and machinery also registering strong year-on-year gains,” Yeh Maan-tzwu (葉滿足), director of the ministry’s department of statistics, told a press conference.
Shipments of electronics — the nation’s major export sector — totaled US$8.32 billion last month, up 9.9 percent from a year earlier, with exports of basic metals and machinery showing a 12.2 percent and 12.7 percent year-on-year growth respectively, data showed.
However, the sluggish pace of shipments of minerals, optical products, and information and communications technology products last month offset the growing pace of exports from a year earlier.
In terms of destination markets, the global economic recovery has led demand for Taiwan-made products to rebound in the US and Europe, with demand from Asian markets also showing mild but steady growth, Yeh said.
Due to a lower comparison base in the third quarter last year, Yeh said exports during the July-to-September period will “definitely” improve compared with the same period last year.
Hong Kong-based ANZ Research agreed, saying technology manufacturers in Taiwan remain positive about the export outlook in the second half of the year.
“The electronics and ICT [information and communications technology] sector will help sustain Taiwan’s external demand,” ANZ Research senior economist Raymond Yeung (楊宇霆) said in a research note yesterday.
The ministry’s report showed that imports came to US$24.91 billion last month, up 7.5 percent from the previous year and 16.5 percent from the preceding month.
Imports of capital equipment increased 4.8 percent to US$3.44 billion last month from a year earlier, reversing the year-on-year contraction recorded in May, which dismisses concern over a possible decline in domestic demand, specifically business investment, Yeung added.
Due to the strong rebound in imports, the nation’s trade surplus shrank to US$1.89 billion last month, a decrease of US$1.41 billion from the same period last year, according to the ministry’s statistics.
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