Exports grow in August after 16 months of decline
By John Liu, The China Post
September 23, 2016, 12:05 am TWN
TAIPEI, Taiwan -- Overseas orders jumped 8.3 percent to US$3.79 million in August, reversing the negative growth seen over the pervious 16 months, the Economics Ministry reported on Thursday.
Exports exceeded expectations largely due to the surge in demand for electronics products, mostly relating to integrated circuits in the semiconductor industry. Electronics orders surged 16.5 percent to US$10.4 billion.
Except for the precision instrument industry, all major export products also saw year-on-year increases.
Thanks to rising demand for computers and new mobile devices, information and communication technology product orders rose 6.6 percent to US$10.5 billion.
The base metal industry jumped 10.7 percent on the back of falling steel production and higher commodity prices and revenues. It was the first time in 22 months that the industry saw positive growth in exports.
Orders for precision instruments fell 6.9 percent to US$2.02 billion. The single-digit decrease is relatively limited compared to the more extensive retreat in the past, the ministry noted.
Machinery products grew 10.6 percent as China ramped up its effort to achieve manufacturing automation.
Thanks to leveling commodity prices, orders for plastic and chemical products rose 8.9 percent and 14.6 percent, respectively. Both managed to end 24-straight months of export decline.