Exports rise 9.7% in February
By ECCT staff writers
Taiwan exports rose 9.7% year-on-year in February to US$27.79 billion, according to a report by the Ministry of Finance (MOF). It was the eighth consecutive month of growth, despite a higher comparison base and fewer work days because of the week-long Lunar New Year holiday in February.
In the first two months of the year, which provides a more accurate picture that takes into account the annual Lunar New Year shutdown (which happened in January in 2020), outbound shipments totalled US$62.06 billion, a rise of 23.2% year-on-year.
The 9.7% growth in February was helped by emerging technologies and the work-from-home economy, which created strong market demand for IC and other products, the ministry's Department of Statistics said. In February 2021, compared with the same month of last year, exports of parts of electronic products, information, communication and audio-video products, base metals and articles of base metal, plastics & rubber and articles thereof, and machinery rose by 14.4%, 7.5%, 10.6%, 18.8%, and 16.2%, respectively.
Meanwhile, Taiwan's imports in February totalled US$23.28 billion, with the country's trade surplus amounting to US$4.51 billion, MOF data showed.
In terms of trading partners, compared with the same month of last year, exports to Mainland China & Hong Kong, ASEAN, Japan, the USA, and Europe rose by 14.8%, 4.2%, 0.5%, 14.8%, and 8.1%, respectively in February. In the first two months of the year, China and Hong Kong accounted for 42.1% of Taiwan’s total exports while ASEAN countries accounted for 16.5%, the United States 13.8%, Europe 8.3% and Japan 7%.