|Taiwan exports surge on higher mobile demand
Taiwan's export orders in June rose 10.6 percent year-on-year to a 17-month high, largely boosted by continuing strong demand for electronic products, the government said Monday.
Export orders totaled US$38.82 billion in June after the highest on-year increase since 17.9 percent growth posted in January 2013, and were also up 2.1 percent from the previous month, the ministry of economic affairs said in a statement.
Orders for electronic items surged 17.0 percent on-year to US$9.79 billion as demand for mobile devices continued to grow and spurred business for the semiconductor and DRAM sectors, the ministry said.
Export orders -- those filed to manufacturers one or two months ahead of delivery -- are a key indicator for the island's export-reliant economy.
Export orders from mainland China and Hong Kong, Taiwan's leading overseas market, rose 14.5 percent on-year to US$10.21 billion, of which orders for electronic items saw the largest increase of 31.5 percent, the ministry said.
Orders from other major markets last month were also up year-on-year. US orders climbed 6.7 percent to US$9.41 billion while those from Europe rose 15.2 percent to US$6.86 billion over a year earlier.
Taiwan's economic growth has been buoyed by a steady recovery in developed countries as well as improved domestic consumption.
The economy grew 3.04 percent in the first quarter, slightly better than expected.
Full-year growth for 2014 was estimated to be 2.98 percent, putting Taiwan on course to enjoy its best year since 2011 when the economy posted a rise of 4.19 percent. --AFP