TAIPEI: The Ministry of Finance (MOF) released Taiwan’s trade data for October on Monday, with substantial growth in both imports and exports.
Given the rising demand for semiconductors and the shipment delays caused by the September typhoons, Taiwan’s exports totaled US$2.675 billion in October, with a year-on-year increase of 9.4 percent. Similarly, imports totaled US$2.237 billion, with an increase of 19.5 percent compared with the same period last year.
Both figures represent record highs for the past 26 months. Particularly striking were import figures from September to October, which increased at the highest rate in the past 45 months.
These data clearly indicated that Taiwan’s trade has recovered from the poor economic climate, leaving the MOF optimistic about Taiwan’s trade for the fourth quarter.
Among the highest-earning exports were electronic parts, which accounted for US$907 million of October’s total, with a year-on-year growth of 15.3 percent.
Microchip exports totaled US$779 million, with year-on-year growth of 21 percent. Electronic parts were the main exports that accounted for this growth, with these products single-handedly making up 4.9 percent of the annual growth in October’s exports.
Other well-performing exports included communication technology products (US$311 million, 18.2 percent year-on-year growth), metal exports (US$227 million, 14.8 percent), machinery exports (US$191 million, 12.9 percent) and chemical exports (US$159 million, 9.9 percent).
Overall, Taiwan witnessed positive growth across all export industries, with year-on-year rises of more than 1 percent for each.
Director Tsai Mei-Na of the MOF’s Department of Statistics attributed the growth to increasing demand for semiconductors along with rising oil prices and delayed shipments from September’s typhoons.
