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.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
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
Power supply and electronic components maker Delta Electronics Inc (台達電) yesterday said it plans to ship its new 1 megawatt charging systems for electric trucks and buses in the first half of next year at the earliest. The new charging piles, which deliver up to 1 megawatt of charging power, are designed for heavy-duty electric vehicles, and support a maximum current of 1,500 amperes and output of 1,250 volts, Delta said in a news release. “If everything goes smoothly, we could begin shipping those new charging systems as early as in the first half of next year,” a company official said. The new
RSS