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Exports expand for third straight month: ministry [GCTL Insights Magazine (China)]
[May 11, 2014]

Exports expand for third straight month: ministry [GCTL Insights Magazine (China)]

(GCTL Insights Magazine (China) Via Acquire Media NewsEdge) TAIPEI, May 12 (GCTL) - Exports last month expanded for the third consecutive month compared with a year ago, as global economic recovery drove demand for electronic and semiconductor products made in Taiwan, the Ministry of Finance said on Wednesday.

The nation's outbound shipments were valued at US$26.6 billion last month, up 6.2 percent from a year earlier, but down 4.2 percent from March, the ministry said in its monthly report.

"The electronics sector maintained its strong expansion and was the key driver for exports last month," Yeh Maan-tzwu, director of the ministry's statistics department, told reporters at a press conference.

Exports of electronic products totaled US$8.16 billion last month, up 14.7 percent from a year earlier and marking their highest level in history, the report said, Taipei Times reported.

Various non-electronic sectors, such as chemicals, plastic and rubber products, metal products and mechanical products, also reported their outbound shipments showing steady growth last month from a year ago, the report said.

However, optical sector exports, as well as information and communications technology (ICT) products, still showed a double-digit decline last month from a year earlier, according to the report.

Overall, overseas shipments to major economies showed year-on-year growth last month, reflecting the mild pace of global economic recovery, Yeh said.

Exports to the US, which rose 6.9 percent from a year earlier to US$3.03 billion last month, marked their highest level in two-and-a-half years, the ministry said.

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