TAIPEI (Taiwan News) — Taiwan’s economy continued to show a “yellow-red” indicator light for March, representing the third consecutive month with an indicator representing economic strength, according to the National Development Council on Monday.

The NDC said the economy was bolstered by exports as buyers continued to build up inventories, though stock market losses and manufacturer confidence have been impacted by Trump’s tariffs. And while the indicator continues to be yellow-red, the overall indicator score dropped three points to 34 points in March, per CNA.

According to the NDC, a rush to ship cargo ahead of US tariffs helped the economy, but many uncertainties remain in place, potentially affecting economic performance in the second half of the year. Among the nine sub-indexes that comprise the economic indicator, stock price, manufacturing sales, revenue generated by retail/wholesale and food/beverage industries, and business sentiment among manufacturers each fell by one point in March.

The NDC said that while some sub-indexes declined, there was growth in other areas, such as overtime working hours in the industrial and service sectors. Furthermore, sub-indexes for money supply, industrial production, merchandise exports, and machinery and electric equipment imports remained unchanged.

Overall, the NDC said the domestic economy continued to grow over the past month, but close attention is necessary as Trump’s tariffs, US stocks, and future US-China confrontation over global trade could drag down Taiwan's economy.