Exports last month grew a tepid 4.3 percent year-on-year to US$37.48 billion, as shipments linked to artificial intelligence (AI) remained the lone bright spot, while all other product categories weakened amid a slow season, the Ministry of Finance said yesterday.
The figure suggested an uneven recovery and was disappointing compared with the ministry’s forecast of an increase of 8 to 11 percent, Department of Statistics Director-General Beatrice Tsai (蔡美娜) said.
“It is hard to capture the world’s business pulse as uncertainties linked to inflation, monetary policies and geopolitical tensions escalate,” Tsai said.
Photo: CNA
It is safe to say that the previous impressive rebounds were technical in nature and mainly due to lower comparison bases last year, she said.
Tsai said that shipments this month might expand 7 to 10 percent.
Exports to the US last month surged 81.6 percent to a historic high of US$10.16 billion, whereas exports to China decreased 11.3 percent to US$11.3 billion, the ministry’s report showed.
Tsai attributed it to US technology giants aggressively building up AI infrastructure and capacities, while Chinese firms increasingly depend on domestic suppliers amid the technology rivalry with the US.
Exports to Japan tumbled by a record 39.6 percent to US$1.93 billion, Tsai said.
Shipments to Europe slid 6.5 percent and a mild 2.8 percent to ASEAN markets, the report showed.
“The global economic recovery looked uneven and bumpy,” Tsai said.
Exports of information and communication technology products spiked 114.6 percent to US$11.74 billion, single-handedly driving 31.3 percent of the total volume, Tsai said.
Shipments of electronic components fell 17.7 percent to US$12.95 billion, with semiconductors shrinking a faster 18.8 percent due to unfavorable seasonality for consumer electronic gadgets, she said.
Although AI demand remained robust, sales of smartphones and PCs were lukewarm, Tsai said.
Likewise, exports of optical devices plunged 33.5 percent, machinery equipment shed 13 percent and transportation tools weakened 20 percent, ministry data showed.
Shipments of plastic, chemical, base metal and mineral products were equally bleak, retreating by 3.2 percent to 27.9 percent, the data showed.
By contrast, imports last month expanded by a faster 6.6 percent to US$31.02 billion, as local firms bought more input materials for exports and capital equipment for capacity expansion, Tsai said.
In particular, imports of semiconductor equipment grew 17.9 percent to US$2.39 billion, she said.
Last month’s trade figures gave Taiwan a trade surplus of US$6.46 billion, down 5.4 percent from a year earlier, the report showed.
Exports in the first four months expanded 10.6 percent to US$147.81 billion, while imports edged up 3.8 percent to US$122.39 billion, it said.
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