Taiwan’s exports increased by an annual rate of 8.4 percent in July, marking a strong turnaround from the surprise decrease of 0.1 percent in June, the Ministry of Economic Affairs (MOEA) announced on August 20.
July’s exports totaled NT$41.8 billion (US$1.36 billion), the highest total recorded by Taiwan for the month.
Orders for communications, electronics and machinery goods reached new highs in July, according to MOEA. Electronic good sales were boosted by emerging technologies like Internet of Things (IoT), biometrics, and automotive electronics.
Some of Taiwan’s traditional export sectors saw big gains in July, with basic metals, rubber, and chemicals all seeing double-digit growth. Strong exports of these products are expected for the rest of the year.
Lin Li-chen (林麗貞), head of MOEA’s statistics department said August exports are expected to increase at an annual rate of between 2.5 to 5 percent, with sales smoothing out after September, before another busy period towards the end of the year.