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Taiwan Exports Rebound as Demand from Chinese Tech Firms Returns
Taiwan Exports Rebound as Demand from Chinese Tech Firms Returns
09 Dec 2019, 10:41 PM IST
(Bloomberg) --
Taiwan’s exports rose the most in more than a year as shipments to China recovered, highlighting the island’s special status as an crucial supplier of computer chips as companies gear up for the roll-out of 5G telecommunications next year.
- Exports rose 3.3% in November, the fastest pace since October last year, shortly after the U.S. imposed tariffs on $200 billion of Chinese products. Economists had expected an increase of 1.1%.
Key Insights
- Shipments to China rose 8% and 16.9% to U.S.
- The stronger-than-expected rebound was driven by strong global demand for integrated circuits and Taiwanese companies shifting production back home to avoid U.S. tariffs, according to a statement from the Ministry of Finance.
- Taiwan’s exports are likely to increase 1% in the fourth quarter, said Beatrice Tsai, the finance ministry’s chief statistician.
- The island’s overseas shipments to China and Hong Kong fell every month this year except for August and November.
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--With assistance from Tomoko Sato.
To contact the reporters on this story: Debby Wu in Taipei at dwu278@bloomberg.net;Samson Ellis in Taipei at sellis29@bloomberg.net
To contact the editors responsible for this story: Jeffrey Black at jblack25@bloomberg.net, James Mayger
©2019 Bloomberg L.P.
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