TAIPEI (Taiwan News) — Taiwan’s exports rose for the 21st straight month in November to a new high of US$65.5 billion, up 13.4% annually due to sustained demand for electronics.
Orders in the first 11 months totaled US$606.2 billion, representing 28.1% of growth compared to the same period last year. The figure for the whole year is expected to exceed US$660 billion, according to the Ministry of Economic Affairs’ Department of Statistics.
The momentum is believed to have been driven by 5G and high-performance computing application sales and strong demand for tech products in the holiday season, from laptops to graphics cards and servers. ICT products and electronics accounted for US$21.19 billion and US$20.27 billion in export orders, respectively.
Increased investment in infrastructure propelled by a global recovery led to a surge in exports in traditional industries. Chemicals logged a 41.1% rise year-on-year, followed by base metals (32.6%), plastics (22.6%), and machinery (17.8%).
The development of the digital economy and innovative technologies are likely to give a boost to the country’s export sector, but the emergence of new COVID-19 variants and continued supply chain bottlenecks could spell uncertainties for the export outlook, the report said.