Exports grew 8.4% year on year to reach US$25.52 billion due to robust demand from Southeast Asian markets
Taiwan’s exports grew for the eighth consecutive month in May, increasing 8.4 percent year on year to US$25.52 billion, according to the Bureau of Foreign Trade under the Ministry of Economic Affairs June 7.
Electronics components comprised 30.4 percent of shipments, followed by information and communication technology products at 10.5 percent, basic metals and related products at 10.1 percent, machinery at 8.5 percent, and plastic and rubber products at 7.7 percent, Ministry of Finance data showed.
The BOFT attributed the positive results to robust demand from emerging markets in Southeast Asia and the continued strength of the nation’s semiconductor equipment exports. Bureau figures reveal exports to Association of Southeast Asian Nations member states rose 7 percent year on year in May, while shipments to the 18 New Southbound Policy countries increased 6 percent for the same period.