Taiwan’s exports post double-digit growth in November

TAIPEI - Taiwan’s exports grew 12.1% year-on-year to US$25.34 billion in November, the first double-digit growth since February 2013, on the strength of surging global demand for semiconductor products, according to the Ministry of Finance.

Data released by the MOF suggests that rising prices of basic metals, oils and other raw materials also contributed to the strong performance. Imports increased 3% 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 in terms of overall growth with an increase of 26.9%, the biggest gain since August 2010, to their second highest level ever. Machinery came in second with an increase of 17.2%, while basic metals and optical devices, including display panels, were up 15.5% and 12.6%, respectively.
Transportation equipment was the only sector to register a decline, falling by 2.4%.
Exports to mainland China and Hong Kong, which comprised 42.3% of Taiwan’s total outgoing shipments, rose 19%, followed by a 13.5% increase in exports Taiwan’s six major trading partners in ASEAN. Both increases were the largest in more than three years.
Shipments to the U.S. also chalked up an impressive gain of 9.1%, while exports to Europe and Japan rose slightly at 1.9% and 0.8%, respectively. www.taiwantoday.tw (ATI).