TAIPEI (Taiwan News) — Taiwan’s listed companies reached a total revenue of NT$3.53 trillion (US$110 billion) in August, marking a 13.85% year-on-year increase, the Taiwan Stock Exchange (TWSE) reported.
August revenue reports for all 1,021 listed companies were completed by Sept. 10. Compared to the same period last year, 612 companies saw revenue growth while 409 experienced declines, per CNA.
Shipping, electronic, and electronic distribution industries experienced significant revenue growth in August, the TWSE analyzed. Trade and retail, construction, and glass and ceramics industries experienced declines.
The shipping industry benefited from rising freight rates. Shipping costs slumped to their lowest levels of Oct. 26, 2023, per Statista.
The Israeli-Hamas war that erupted in October 2023 caused disruptions to global trade, especially impacting oil exports through the Red Sea. Fear of vessel losses in the Red Sea prompted insurers to increase premiums, driving up freight rates, according to DW News.
Global freight rates climbed to a new record high of NT$189,573 (US$5,900) in July 2024. This significant increase boosted Taiwan's freight industry.
The electronic and electronic distribution sectors rose from AI cloud products, new product stock-ups, and increased demand for electronic components.
The trade and retail industry experienced a decline. The Shin Kong Mitsukoshi operation team reported a significant drop in business during July, the first month of summer vacation, per Yahoo stock.
Many people traveled abroad, especially to Japan, to purchase luxury goods, which was correlated with a decrease in domestic sales. Furthermore, the construction industry faced delays in project timelines, resulting in declines in engineering and real estate sales revenue.
The slowdown in China's real estate market impacted the glass and ceramics industry. The electrical machinery and equipment industry was affected by weak end-market demand, while the steel industry experienced a decline due to weak demand from the manufacturing industry.
