Exports last month rose for a second straight month, increasing 4 percent from a year earlier to US$29.5 billion, as electronics shipments rose ahead of the Lunar New Year holiday, while declines in non-tech products tapered off, the Ministry of Finance said yesterday.
Following November last year’s 3.3 percent year-on-year increase, the latest data suggest a recovery for technology products as the US and China move to solve their trade dispute, the ministry said.
“The pickup is evident for electronics, the mainstay of Taiwanese exports, which saw an 11.9 percent increase from a year earlier,” thanks to active inventory demand from China, the US and Japan, Department of Statistics Director-General Beatrice Tsai (蔡美娜) told a media briefing in Taipei.
Semiconductor shipments grew 14.2 percent to US$9.4 billion on the back of 5G deployments by Chinese technology brands, Tsai said.
China’s Xiaomi Corp (小米), Oppo Mobile Telecommunications Corp (歐珀) and Vivo Communication Technology Co (維沃) are to roll out 5G smartphones powered by chips designed by MediaTek Inc (聯發科) and made by Taiwan Semiconductor Manufacturing Co (台積電).
Robust demand for information and communication devices also pushed shipments for the product category to a record high of US$4.07 billion, as the benefits of order transfers and trade rerouting were sustained and would extend into this year, Tsai said.
Meanwhile, a protracted retreat in non-tech product exports has subsided, although it is premature to speculate on a turnaround, she said.
Exports of base metals, plastic and mineral products posted a single-digit decline as local steelmakers spotted signs of improvement for selling prices, while others looked at an extended soft patch, Tsai said.
Imports also sent a positive message, with a 13.9 percent increase from a year earlier to US$26.99 billion, the ministry’s report showed.
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