Taiwan exports rise 6.2% to $26bn in April

Fair Friend employees work in the company’s factory in Taichung, Taipei. Taiwan’s exports rose on growing demands from major foreign countries.

AFP/Taipei

Taiwan’s exports rose 6.2% year-on-year in April to $26.6bn thanks to growing demands from most major overseas markets, the government said yesterday.

Shipments to the Chinese mainland and Hong Kong in April rose 5% on-year to $10.38bn while exports to Southeast Asia and US were up 8.5% and 6.9%, respectively, to $5.02bn and $3.03bn, said the finance ministry.  Taiwan sold $2.56bn worth of goods to Europe last month, up 13.1% from the previous year but sales to Japan fell 3.2% to $1.45bn, the only decline among its major export markets, the ministry said in a statement.

April’s exports were also lifted by robust demands for electronics products, including microchips and solar batteries, which increased 14.7% to $8.16bn from a year ago but shipments of telecommunication items fell 11.5% on-year to $1.16bn, including a 23% decline in sales of mobile phones.

Growth in Taiwan’s export-reliant economy has been buoyed by a steady economic recovery in developed countries as well as improved domestic consumption.

The economy grew 3.04% on-year in the first quarter, a figure which is slightly better than predicted. It was boosted by rising exports and domestic spending.

Full-year growth for 2014 was estimated to be 2.82%, putting Taiwan on course to enjoy its best growth since 2011’s 4.19%.