Taiwan’s exports last month jumped 34.7 percent year-on-year to a record US$37.95 billion as global demand for tech and non-tech products remained solid, the Ministry of Finance said yesterday.
The momentum is expected to continue this month with an estimated gain of 20 to 25 percent, despite a high comparison base last year, Department of Statistics Director-General Beatrice Tsai (蔡美娜) told an online news conference in Taipei.
“We have observed a strong and broad-based pickup of tech and non-tech shipments for quite a while,” Tsai said.
Photo: Reuters
The embrace of digital transformation by global companies and organizations fueled insatiable demand for chips and other electronics, while a warming global economy powered demand for base metal, plastic, chemical and mineral products, Tsai said.
Next-generation smartphones and other consumer electronic gadgets would ramp up business at local component suppliers and push up their selling prices, she said.
Apple Inc is widely expected to release new iPhones and Apple watches next month to capitalize on the back-to-school and Christmas seasons, and rival brands are unlikely to sit on the sidelines.
That would continue to benefit the nation’s exports, although the pace of increase might slow a bit due to a high comparison base this month, Tsai said, adding that the trajectory would not veer off course despite lingering uncertainty.
The Delta variant of SARS-CoV-2 is spreading worldwide, but US and European authorities have said that they are not planning to consider lockdowns, because many people have been vaccinated.
Shipments to all major trading partners posted double-digit percentage growth, led by a 64 percent surge to Europe, the fastest increase in history, the ministry’s report said.
Exports of optical devices — mainly flat panels and phone camera lenses — lost some steam, but still rose 18.9 percent, although analysts have projected a slowdown.
The low comparison base last year enabled shipments of metal, plastic, chemical and mineral products to report improvements of 40 to 114 percent, while electronics commanded much higher absolute values, Tsai said.
Imports advanced 41 percent year-on-year to US$32.05 billion last month, giving Taiwan a trade surplus of US$5.9 billion for the month, the ministry said.
Imports of agricultural and industrial materials accounted for the majority at 69.8 percent, while local semiconductor firms aggressively acquired capital equipment to expand capacity and ease chip supply crunches, it said.
Imports of semiconductor capital equipment swelled 69 percent to US$2.71 billion, it said.
For the first seven months of the year, cumulative exports expanded 31.5 percent to US$58.72 billion, while imports grew 30.4 percent to US$20.71 billion, it said.
The US government has signed defense cooperation agreements with Japan and the Philippines to boost the deterrence capabilities of countries in the first island chain, a report by the National Security Bureau (NSB) showed. The main countries on the first island chain include the two nations and Taiwan. The bureau is to present the report at a meeting of the legislature’s Foreign Affairs and National Defense Committee tomorrow. The US military has deployed Typhon missile systems to Japan’s Yamaguchi Prefecture and Zambales province in the Philippines during their joint military exercises. It has also installed NMESIS anti-ship systems in Japan’s Okinawa
TRAGEDY STRIKES TAIPEI: The suspect died after falling off a building after he threw smoke grenades into Taipei Main Station and went on a killing spree in Zhongshan A 27-year-old suspect allegedly threw smoke grenades in Taipei Main Station and then proceeded to Zhongshan MRT Station in a random killing spree that resulted in the death of the suspect and two other civilians, and seven injured, including one in critical condition, as of press time last night. The suspect, identified as a man surnamed Chang Wen (張文), allegedly began the attack at Taipei Main Station, the Taipei Fire Department said, adding that it received a report at 5:24pm that smoke grenades had been thrown in the station. One man in his 50s was rushed to hospital after a cardiac arrest
‘WIN-WIN’: The Philippines, and central and eastern European countries are important potential drone cooperation partners, Minister of Foreign Affairs Lin Chia-lung said Minister of Foreign Affairs Lin Chia-lung (林佳龍) in an interview published yesterday confirmed that there are joint ventures between Taiwan and Poland in the drone industry. Lin made the remark in an exclusive interview with the Chinese-language Liberty Times (the Taipei Times’ sister paper). The government-backed Taiwan Excellence Drone International Business Opportunities Alliance and the Polish Chamber of Unmanned Systems on Wednesday last week signed a memorandum of understanding in Poland to develop a “non-China” supply chain for drones and work together on key technologies. Asked if Taiwan prioritized Poland among central and eastern European countries in drone collaboration, Lin
ON ALERT: Taiwan’s partners would issue warnings if China attempted to use Interpol to target Taiwanese, and the global body has mechanisms to prevent it, an official said China has stationed two to four people specializing in Taiwan affairs at its embassies in several democratic countries to monitor and harass Taiwanese, actions that the host nations would not tolerate, National Security Bureau (NSB) Director-General Tsai Ming-yen (蔡明彥) said yesterday. Tsai made the comments at a meeting of the legislature’s Foreign Affairs and National Defense Committee, which asked him and Minister of National Defense Wellington Koo (顧立雄) to report on potential conflicts in the Taiwan Strait and military preparedness. Democratic Progressive Party (DPP) Legislator Michelle Lin (林楚茵) expressed concern that Beijing has posted personnel from China’s Taiwan Affairs Office to its
RSS