Exports post double-digit growth in November

Taiwan Today
Date: December 12, 2016

Taiwan’s exports grew 12.1 percent year on year to US$25.34 billion in November, the first double-

The MOF cited the strong performance of electronics components and parts as the major reason for the overall increase in November exports, which experienced double-digit annual growth for the first time in nearly four years. (CNA)

digit growth since February 2013, on the strength of surging global demand for semiconductor products, according to the Ministry of Finance.

Data recently released by the MOF suggest the rising prices of basic metals, oils and other raw materials also contributed to the strong performance. Imports increased 3 percent year on year to US$21.07 billion during the month, while the trade surplus nearly doubled to US$4.27 billion.

Among Taiwan’s key export items, electronics components and parts led the pack in terms of overall growth with an increase of 26.9 percent, the biggest gain since August 2010, to their second highest level ever. Machinery came in second with an increase of 17.2 percent, while basic metals and optical devices, including display panels, were up 15.5 percent and 12.6 percent, respectively. Transportation equipment is the only sector that registered a decline, falling by 2.4 percent.

Exports to mainland China and Hong Kong, which comprised 42.3 percent of Taiwan’s total outgoing shipments, rose 19 percent, followed by a 13.5 percent increase in exports to the country’s six major trading partners in the Association of Southeast Asian Nations. Both increases were the largest in more than three years.    [FULL  STORY]

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