Taiwan's Exports Slightly Up 2% in March

Taiwan's exports rose a slight annual 2% to US$27.76 billion in March, the third highest monthly record; and in the first quarter the exports edged up 1%, a little lower than the 1.32% estimated by the Directorate General of Budget, Accounting & Statistics (DGBAS), according to the Ministry of Finance (MOF).

In March, the export value of electronic products rose 9.2% to US$8.15 billion, the highest of its kind, of which ICs, solar-powered batteries, and data storage media surged significantly. Likewise, the export of machine tools during the month jumped by 14.4% or US$40 million for the second consecutive monthly rise.

M.T. Yeh, director general of the Department of Statistics under MOF, indicates that the performance of Taiwan's exports in the first quarter was fairly satisfactory despite the growth being lower than expected by only US$250 million.  Yeh believes that the export performance in the second quarter will be better.

The exports showing lackluster performance included ICT (information, communication & technology) products, optical instruments, and electric machines. Among them, the export of ICT products shrank 7% in March and tumbled by 14.3% in the first quarter.

Taiwan's imports in March came to US$25.8 billion, the second highest monthly record and up 7.5% YoY. However, in the first quarter the imports dropped an annual 1.6%, which would be positive 2% should the price hike of international commodities be taken into account.

As for export outlets, Taiwan's exports to Europe and the U.S. each witnessed an annual growth of over 10% in March; while the exports to China & Hong Kong, the six ASEAN (Association of Southeast Asian Nations) members and Japan all posted slow export growths. (JL)