Taipei, Nov. 25 (CNA) High-tech devices made up 46 percent of Taiwan's total exports in the first 10 months of this year, the highest percentage of all products shipped abroad from the country, according to the Ministry of Finance (MOF).
Data compiled by the MOF showed an increase in tech gadget exports from Taiwan in the past 10 months came due to solid global demand at a time when the world's economy has been on the path to recovery.
During the 10-month period, Taiwanese exporters benefited from the launch of new models by international mobile device brands as well as innovations in the Internet of Things and automotive applications, the MOF said.
Many Taiwanese tech firms are part of the global supply chain of multinational brands. More importantly, many Taiwanese companies are also suppliers to Apple Inc.
As a result, the MOF said, outbound sales in high tech devices from Taiwan rose 14.4 percent from a year earlier in the 10-month period, a higher growth rate than the 13 percent year-on-year growth for all exports in the same period.
Among the exported tech devices, semiconductors accounted for 62.6 percent of the total, followed by other items such as flat panels, wireless transmission devices and mobile phones which made up 4.8 percent to 5.7 percent of the mix, the MOF said.
The MOF said high-tech devices have weighed more and more in Taiwan's exports in recent years. Such items accounted for 39.5 percent of the country's total exports in 2012, but the ratio has been on the rise to 40.8 percent in 2013, 41.9 percent in 2014, 43.5 percent in 2015, and 45.6 percent in 2016.
While the local high tech sector enjoyed rising outbound sales, the MOF sounded a word of caution, saying that there have been signs that Taiwan has depended too much on exports of electronics and information/communication technology products.
According to the MOF, China/Hong Kong and the Association of Southeast Asian Nations (ASEAN) have become the top two markets for Taiwan-made tech devices, accounting for about 50 percent and almost 20 percent of Taiwan's tech exports, respectively, while the United States, Europe and Japan account for a range between 6.5 percent and 7.7 percent, respectively, of the total.
In the first 10 months of this year, China/Hong Kong accounted for 52.3 percent of Taiwan's total tech device exports, while ASEAN took 18.4 percent, according to the MOF.
The MOF said exports to the U.S and European markets have been affected by escalating competition and a decline in smartphone sales. A move by Taiwanese firms to relocate their investments overseas have also dragged down Taiwan's exports to the two markets, the MOF added.