Taiwan Sees Continued Stellar Export Performance in July

Taiwan`s export trade continued to enjoy stellar performance in July and is expected to maintain its strong growth momentum through year end, boosting the total export value to over US$270 billion for the entire year, a record high, according to the Ministry of Finance (MOF).

The MOF reported yesterday (Aug. 9) that Taiwan`s exports soared 38.5% to US$23.9 billion in July, the highest since the outbreak of the global financial tsunami, and imports leapt 42.7% to US$21.74 billion, both maintaining a vigorous performance which had lasted nine months.

In the first seven months, Taiwan`s exports advanced 47.4% year-on-year, or US$50.08 billion, to US$155.82 billion and import rose 61%, or US$53.69 billion, to US$141.73 billion, with the two-way foreign trade amounting to US$297.55 billion, a record high. Trade surplus stood at US$14.1 billion during the period, the second highest ever.

Lin Li-chen, chief statistician of the MOF, pointed out that due to the busy-season effect, Taiwan`s exports will grow at least 6.9% in the second half over the first half, enabling the whole-year export value to jump 34% to US$272.98 billion, a record high.

Electronics, chemicals, and plastics/rubber had the best performance in July, with shipment of electronic products reaching US$6.71 billion, a record high. Shipment of electronic products soared 52% year-on-year in the first seven months. Among electronic products, semiconductor, solar cell, and printed circuit board scored the highest export growth in July.

Thanks to global economic upturn, imports of capital goods topped US$3.45 billion in July, the fifth month in a row with such import exceeding the US$3 billion mark. Imports of capital goods topped US$22.28 billion in the first seven months, the second highest for the period ever, with machinery imports, mainly for semiconductor production equipment, skyrocketing 98.6%, the highest growth.

(by Philip Liu)

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