TAIPEI- Taiwan’s exports rose for an 18th straight month in December, though at a slightly lower rate than forecasts, boosted by continued strong tech demand and amid a global shortage of computer chips.
Exports in December were the second highest monthly figure on record, rising 23.4 percent from a year earlier to $40.72 billion, the Ministry of Finance said on Friday.
A Reuters poll of analysts had forecast a rise of 26.7 percent for the month, compared with a 30.2 percent increase in November.
Exports rose 29.4 percent in 2021 to a record high, supported by global demand for the island’s tech products from semiconductors to telecommunications equipment.
The ministry attributed the December growth to strong demand for tech exports such as electronic components as well as chips, a shortage of which has crippled car plants globally and is affecting consumer electronics.
Exports of electronics components rose 27.5 percent in December to reach $3.51 billion, with semiconductor exports growing 29.2 percent and telecommunication products gaining 22.4 percent from a year earlier.
Firms such as Taiwan Semiconductor Manufacturing Co Ltd (TSMC) are major suppliers to Apple Inc and other global tech giants, as well as providers of chips for auto companies and lower-end consumer electronics.
The finance ministry warned of risks ahead, including uncertainty over the COVID-19 pandemic as well as persistent supply chain bottlenecks.
