Taiwan’s chip exports rise

TAIPEI, Taiwan — Taiwan’s exports rose by double digits in April, boosted by demand for processor chips as global manufacturing revived.

Exports increased 38.7 per cent over a year earlier to $35 billion in April, the 10th straight month of gains, Ministry of Finance data showed Friday. Imports advanced 26.4 per cent to $28.8 billion.

Exports of electronic parts increased 38.6 per cent to $13.5 billion, accounting for about 40 per cent of sales.

Taiwan is a major supplier of processor chips used in smartphones, cars and consumer electronics.

“We remain optimistic about goods exports outlook and expect over 20 per cent growth in US dollar terms in 2021,” Lloyd Chan of Oxford Economics said in a report.