Taiwan’s exports beat estimates as surging sales of semiconductors and other electronic components propelled overseas shipments to its fastest growth in more than a decade.
The value of exports increased 38.7% in April from a year earlier to US$35-billion, the ministry of finance said on Friday, stronger than the median estimate for a 27.6%. Imports gained 26.4%, with the trade surplus widening to $6.2-billion.
Friday’s numbers underscore the rapid rebound in global trade as the US and parts of Europe begin to emerge from the worst of the coronavirus pandemic. Chinese exports surpassed economist estimates in April, rising 32.3% in US dollar terms while South Korea’s overseas shipments for the month surged more than 41%.
The strength of global demand could propel Taiwan to its strongest economic growth in more than a decade. Economic officials have expressed increasing confidence that full-year growth will likely surpass 5% after first-quarter growth topped 8%. Government statisticians are scheduled to release their newest forecasts on 28 May. — Reported by Debby Wu and Samson Ellis, (c) 2021 Bloomberg LP
