News
April exports rise 4.3%
By ECCT staff writers, MOF
Taiwan’s total exports in April 2024 expanded 4.3% year on year to US$37.48 billion while total imports rose by 6.6% from a year earlier to US$31.02 billion. According to a news release from the Ministry of Finance, exports in the first four months of 2024 rose by 10.6% compared to the same period in 2023.
In April, compared with the same month of last year, exports of information, communication and audio-video products grew by 114.6%, boosted by shipments of Taiwan-made AI servers and graphics cards. However, exports of electronic components, base metals and articles of base metal, machinery, plastics & rubber and articles thereof declined 17.7%, 10.2%, 13.1%, and 8.2%, respectively. Although demand for high-end chips for emerging technology use remains strong, the smartphone and automotive IC markets are still fragile, which pushed down exports from semiconductor suppliers by 18.8% from a year earlier to US$11.98 billion in April.
Broken down by region, in April 2024, compared with the same month of last year, exports to ASEAN countries as well as the USA rose by 2.8% and 81.6%, respectively. However, exports to Mainland China & Hong Kong, Japan, and Europe declined 11.3%, 39.6%, and 6.5%, respectively. Year-to-April exports to the USA and ASEAN are up by 64% and 25%, respectively while exports to Mainland China (including Hong Kong), Japan and Europe are down by 3.7%, 21.9% and 6.1%, respectively.
