Global demand for high-end products a boost to Taiwan's economy
By: Huang Tzu-ti, Taiwan News, Staff Writer
August was the month with the most growth since February 2018, said Huang Yu-ling (黃于玲), director of the Ministry of Economic Affairs’ Department of Statistics (DOS). The stellar performance can be attributed to the buoyant demand for high-end semiconductor products and remote technology-related goods.
Exports for electronics and ICT products grew year-on-year by 28.2 and 26.4 percent, respectively, while machinery and optical equipment exports saw 7 and 5.4 percent increases, respectively. Demand for goods in traditional industries like plastics and chemicals was still sluggish but is expected to pick up as economic activity returns globally.
The three largest export markets for Taiwan in August were the U.S. (US$13.7 billion), China (US$12.9 billion), and Europe (US$8.1 billion). [FULL STORY]