- POSTED: 09 Jun 2014 20:05
Taiwan's exports rose 1.4 percent year-on-year in May to register a fourth consecutive month of growth, bolstered by strong demand for electronics, the government said on Monday.
TAIPEI: Taiwan's exports rose 1.4 percent year-on-year in May to register a fourth consecutive month of growth, bolstered by strong demand for electronics, the government said on Monday.
Exports totalled $26.7 billion with electronics hitting a monthly record of $8.6 billion, up from $1.1 billion a year ago, according to figures released by the finance ministry.
Shipments of semiconductors increased $850 million or 16 percent year-on-year while those of solar cells surged $80 million or 37.7 percent compared with the same period last year.
Shipments to the Chinese mainland and Hong Kong rose 6.4 percent year-on-year in May to $11.1 billion, while exports to the United States were up 1.0 percent to $3.0 billion and those to Europe rose 5.8 percent to $2.4 billion, the ministry said.
Sales to Southeast Asia fell 4.5 percent to $4.8 billion, it added.
In the five months to May, Taiwan's exports rose 2.1 percent year-on-year to $126.6 billion, the ministry said.
Growth in Taiwan's export-reliant economy has been buoyed by a steady economic recovery in developed countries as well as improved domestic consumption.
The economy grew 3.04 percent in the first quarter, a figure slightly better than predicted.
Full-year growth for 2014 was estimated to be 2.82 percent, putting Taiwan on course to enjoy its best year since 2011.