Taiwan exports up for 10th straight month in April

Taipei, May 7 (CNA) Taiwan's exports for April rose from a year earlier for the 10th consecutive month because of a low base of comparison and growing demand for gadgets related to the booming stay-at-home economy, the Ministry of Finance (MOF) said Friday.

Momentum enjoyed by the non-tech industrial sector also accelerated as a recovery in global demand continued to push product prices higher, further boosting outbound sales, the MOF said.

Taiwan's exports totaled US$34.96 billion in April, up 38.7 percent from a year earlier after a year-on-year growth of 27.1 percent seen in March, MOF data showed.

The April figure was the second highest ever in Taiwan, only trailing March's US$35.89 billion.

By comparison, exports in April 2020 totaled US$25.24 billion, falling 1.3 percent from the previous year as the COVID-19 pandemic began to bite into global economic demand.

In April, Taiwan's imports hit US$28.79 billion, up 26.4 percent from a year earlier, leaving a trade surplus of US$6.18 billion, up US$3.74 billion from a year earlier, the MOF said.

In the first four months of 2021, Taiwan's exports were up 28.0 percent from a year earlier to US$132.91 billion, and imports also rose 22.4 percent from a year earlier to US$112.36 billion.

The trade surplus during the period of US$20.55 billion was up US$8.52 billion, year-on-year.

In April, electronics component exporters posted US$13.51 billion in outbound sales, up 34 percent from a year earlier, while semiconductor exports rose 34.9 percent to US$12.24 billion due to strong demand for new technology applications, the MOF said.

Electronics component suppliers accounted for 38.6 percent of Taiwan's total exports in April, according to the MOF.

Exports generated by information communications and video/audio device suppliers hit US$4.71 billion, up 35.9 percent from a year earlier.

In the non-tech industrial sector, exports of base metals, plastics/rubber, machinery and chemical products rose 40.7 percent, 52.5 percent, 27.6 percent, and 55.4 percent, respectively, from a year earlier to US$2.65 billon, US$2.42 billion, US$2.20 billion, and US$1.90 billion in April, MOF data showed.

In April, China and Hong Kong remained the largest buyer of Taiwan's goods after imports from Taiwan rose 32.2 percent year-on-year to US$14.82 billion, accounting for 42.4 percent of Taiwan's total exports, the MOF said.

The Association of Southeast Asian Nations bloc was Taiwan's second biggest export market, buying US$5.77 billion of Taiwan's goods, ahead of the United States (US$4.93 billion), Europe (US$2.87 billion) and Japan (US$2.53 billion), MOF data showed. The MOF said that as the world economy continues to steam ahead, Taiwan is expected to further benefit from growing demand in both the high tech and and old economy sectors.

Taiwan's exports are expected to grow by 25-31 percent from a year earlier in May because of that continued momentum, the MOF said.