Taiwan’s July Exports Hit Record on Surging Tech Shipments



Betty Hou | Bloomberg News

Taiwan’s exports started the second half of 2021 as it ended the first, growing at an unrelenting pace fueled by overseas demand for computer chips and electronic components, reflecting strengthening optimism the post-Covid global recovery is taking hold.

Taiwan’s overseas shipments rose 34.7% in July from a year earlier to $37.95 billion, according to a statement Monday from Taiwan’s Ministry of Finance. That was the highest for any month in data back to 1981. Total imports rose 41% to $32.05 billion, leaving a $5.9 billion trade surplus.

Taiwan’s economy grew faster than expected in the second quarter, mainly fueled by a surprising growth in export demand which offset the impact of island-wide Covid-19 restrictions. Gross domestic product grew 7.47% in the second quarter from a year earlier, official data showed, beating the median estimate of 6.65% in a Bloomberg survey of economists.

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