Business News Asia
According to Taiwan’s Ministry of Finance, Taiwanese exports fell for the second month in a row in October. However, the decline was much smaller than expected. This is because the demand for chips for high-performance computers and cars remains strong. But this positive factor is being overshadowed by global inflation.
Taiwan’s exports fell 0.5% year-on-year in October to $39.93 billion. In September, exports had fallen 5.3%, the first decline in 2 years.
The ministry said that despite the general slowdown in global demand, exports of technology products are in good shape. This is driven by the demand for chips for high-performance computers, automobiles, and data centers.
Taiwan’s electronic component exports rose 15.9% to $16.9 billion in October. Semiconductor exports rose 19.4% year-on-year.