Taiwan exports up for ninth straight month in June

Export performance in the third quarter would largely depend on whether the new iPhone 8 will sell well, the officials said.

(By Central News Agency)

TAIPEI (Taiwan News ) - Taiwan’s exports grew for a ninth consecutive month in June, reporting a 13 percent increase year-on-year to US$25.83 billion, according to the latest report released by the Ministry of Finance Friday.

As global demand for electronics components used in technology gadgets remained solid, Taiwan’s June exports registered a double-digit growth of 13 percent with US$25.83 billion, while the nation’s imports grew 3.7 percent from a year earlier to US$20 billion, resulting in a trade surplus of US$5.83 billion, up US$2.26 billion year-on-year.

Due to the impact of increased raw material prices and strong export performance for the production of electronic integrated circuits and flat-panel displays, coupled with the rising demand for heavy machinery and equipment from the United States, Taiwan’s exports continued to show sturdy growth this month, the officials said.

However, the nation’s exports are expected to see smaller growth in the second half of this year as a result of a relatively higher base of comparison in the same period last year.

Export performance in the third quarter would largely depend on whether the new iPhone 8 will sell well, the officials said.

Forecasts by the Directorate General of Budget, Accounting and Statistics are showing a year-on-year growth of 5.2 percent for the second half of 2017.