Taiwan exports surge on back of tech demand
Taiwan's export orders grew last month at their fastest pace in 1½ years as its manufacturers rushed to fill orders for new smartphones from Apple and others.
Taiwan's export orders grew last month at their fastest pace in 1½ years as its manufacturers rushed to fill orders for new smartphones from Apple and others.
The island's technology sector is gearing up to ship new products, including the much-anticipated iPhone 6 and new iPads, that are expected to hit shelves this autumn, raising prospects for its suppliers and assemblers.
Taiwan is one of the world's leading exporters of electronic goods and boasts a number of suppliers for foreign hardware heavyweights such as Apple.
But it is subject to the boom-bust cycles of the technology sector and faces intensifying competition from regional rivals in South Korea and on the mainland.
Export orders grew 10.6 per cent year on year last month, the Ministry of Economic Affairs said yesterday.
The ministry said that discounting distortions from the Lunar New Year, it was the best growth rate since the end of 2012.
"Demand for electronics goods rose 17 per cent year on year, mainly because demand for handheld devices continued to grow, especially high-end smartphone models at affordable prices grew fast," it said. "That was the main driver boosting demand in chips and DRAMs supply chains."
Orders from the mainland posted the biggest year-on-year growth, rising 10.6 per cent, while those from the United States saw a 6.7 per cent gain. Orders from Europe soared 15.2 per cent, while those from Japan rose 4.2 per cent.
Export orders lead actual exports by one to two months and are a leading indicator of worldwide demand for tech gadgets.
Hon Hai Precision Industry, the world's No1 contract manufacturer of electronic goods, will start production of Apple's next-generation iPhone this month, according to Taiwanese media.
