The nation’s exports dipped 1.2 percent year-on-year to US$22.37 billion last month, as a slow technology season and the Lunar New Year holiday depressed outbound shipments, the Ministry of Finance (MOF) said yesterday.
The decline is no cause for concern, as the global economy is on a course of expansion, allowing exports to stage a rebound this month and beyond, Department of Statistics Director-General Beatrice Tsai (蔡美娜) said.
“Fewer working days and a high base last year accounted for the temporary retreat,” Tsai said. “Stripping seasonal disruptions, outbound shipments are to gain 4.1 percent.”
For the first two months of the year, exports grew 7.3 percent to US$49.75 billion, a record for the period on the back of demand for electronics components, as well as basic metal, chemical and mineral products, she said.
Tsai expects exports to advance faster than average this month, aided by the world’s stronger-than-expected economy.
Improving demand for non-technology products more than offset disappointing sales in high-end smartphones, Tsai said, referring to Apple Inc’s iPhone X series and ongoing inventory adjustments by Chinese brands.
Exports of machinery tools and chemical products remained robust with a 7.8 percent and 7.5 percent increase respectively, despite unfavorable seasonal and holiday factors, the ministry’s report said.
The US, Europe and Japan in particular increased purchases of Taiwanese goods and services, it added.
Imports picked up 0.9 percent to US$19.46 billion last month, weakening the trade surplus by 13.2 percent to US$2.92 billion, the report showed.
However, capital equipment slumped 14 percent to US$2.79 billion, as local firms have yet to recover buying interest, Tsai said.
Imports of consumer goods such as cars, garments and health products rose another 6 percent last month and hit a new high in the first two months, she said.
For the first two months, imports increased 12.4 percent to US$44.42 billion, the report said.
It is too early to gauge the effects of US plans to impose hefty tariffs on imports of steel and aluminum that could prompt retaliation and escalate into a trade war, the ministry said.
Steel accounts for 2.8 percent of Taiwan’s exports to the US, while related products add up to 10 percent, Tsai said, adding that aluminum poses a lesser threat, given that its total amount is less than US$100 million a year.
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
Taiwan is open to joining a global liquefied natural gas (LNG) program if one is created, but on the condition that countries provide delivery even in a scenario where there is a conflict with China, an energy department official said yesterday. While Taiwan’s priority is to have enough LNG at home, the nation is open to exploring potential strategic reserves in other countries such as Japan or South Korea, Energy Administration Deputy Director-General Chen Chung-hsien (陳崇憲) said. While the LNG market does not have a global reserve for emergencies like that of oil, the concept has been raised a few times —
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday received government approval to deploy its advanced 3-nanometer (3nm) process at its second fab currently under construction in Japan, the Ministry of Economic Affairs said in a news release. The ministry green-lit the plan for the facility in Kumamoto, which is scheduled to start installing equipment and come online in 2028 with a monthly production capacity of 15,000 12-inch wafers, the ministry said. The Department of Investment Review in June 2024 authorized a US$5.26 billion investment for the facility, slated to manufacture 6- to 12nm chips, significantly less advanced than 3nm process. At a meeting with
RSS