Taiwan’s June exports hit US$26.8 billion: 5% growth target in sight

TAIPEI - Taiwan’s exports are on track to grow 5% this year, following expanded electronics shipment in June, a month in which total exports hit US$26.8 billion, up 1.2% from the year before, on the back of continuing high demand for electronics, basic metal products and machinery. The Ministry of Finance said second quarter exports, at US$80.07 billion, were the highest in three years.

According to MOF Department of Statistics Director Yeh Maan-tzwu, third quarter exports are expected to be even better, bringing the annual target of 5% export growth comfortably within reach.
June exports would have been higher had it not been for a double digit fall-off in exports of mineral, optical, and information and communications technology products, offsetting 12.7%, 12.2% and 9.9% growth in machinery, basic metal products and electronics, respectively, the MOEA said. Electronics made up 31% of total exports.
Imports also grew by 7.5% to US$24.91 billion during the period.
Cumulative totals for the first six months of the year were US$153.38 billion for exports and US$137.21 billion for imports, an increase of 2% and 1.1% respectively, from the previous year. The accumulated trade surplus stood at US$16.18 billion, up 10.2%.
In terms of destinations, exports for the past six months to the US and Europe grew strongly by 6.5% and 6.3% respectively, while mainland China, including Hong Kong, rose by 2.8% and the six ASEAN economies were almost flat with a 0.1% increase.
The MOF forecast Taiwan’s exports for the third and fourth quarters to reach US$80.01 billion and US$81.65 billion, respectively. www.taiwantoday.tw (ATI).