Taiwan February exports hit a new high, 9.7% up from last year

Taiwan’s Ministry of Finance announced export figures for February today, March 9, showing that exports totaled US$27.29 billion, up 9.7% from the same time last year.

The announcement marks the eight consecutive months of positive economic growth. Cumulative exports for the first two months of 2021 reached US$62.06 billion, a year-on-year increase of 23.2%.

According to the Ministry of Finance, continued demand for tech products, including chips and panels, laptops, which expanded 68% last month contributed to overall increase in exports. The upward trend is expected to continue into the second quarter, the Ministry of Finance said.

In terms of major markets, in February, exports to China, Hong Kong, and the United States increased by 14.8% year on year, while exports to Europe were up 8.1%, and the ASEAN region 4.2% annually, and to Japan by 0.5%.

The Ministry of Finance forecasts that March exports will rise in the region of 15% to 20% year-on-year.

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