Exports up for 17th straight month in March due to frontloading shipments

Taipei, April 10 (CNA) Taiwan's exports rose more than 18 percent from a year earlier in March, marking the 17th consecutive monthly year-on-year increase, fueled in part by manufacturers frontloading shipments, according to the Ministry of Finance (MOF).

Data compiled by the MOF showed the country's exports rose 18.6 percent from a year earlier to hit US$49.57 billion in March.

Beatrice Tsai (蔡美娜), director-general of the ministry's Department of Statistics, said the effect of manufacturers frontloading shipments came amid uncertainties regarding new tariffs from the United States.

The other reason for the March growth was the sustained popularity of emerging technologies such as artificial intelligence applications and high-performance computing devices, Tsai added.

Among the major buyers, China and Hong Kong purchased US$14.30 billion in Taiwanese goods in March, accounting for 28.9 percent of Taiwan's total outbound sales, ahead of the United States, which bought US$12.75 billion worth of merchandise from Taiwan, representing 25.7 percent of the total, the MOF data showed.

The information communications and video/audio industry reported year-over-year growth of 34.2 percent in March with exports hitting US$16.94 billion, a record high for any single month, fueled by robust demand for graphics cards and servers, Tsai said.

Exports of electronic components in March reached US$17.53 billion, an increase of 19.3 percent from the previous year, she said.

The two sectors accounted for approximately 92 percent of total export growth that month, the director-general said.

Meanwhile, exports posted by the plastics/rubber industry in March dropped 6.8 percent year-on-year, mainly due to global oversupply, while textile exports also remained sluggish, affected by weak demand from China and Hong Kong, resulting in a 4.6 percent year-on-year decline that month, Tsai added.

In terms of the first quarter, the information communications and video/audio industry continued to play a key role in supporting Taiwan's outbound sales, she said.

Citing the information communications industry, Tsai said the sector's exports reached US$43.51 billion in Q1, a new record high for any single quarter.

According to the MOF, Taiwan's imports in March also rose by 28.8 percent from a year earlier to US$42.62 billion, resulting in a trade surplus of US$6.95 billion.