UPDATE 1-Taiwan’s Sept exports leap on chips, strong outlook seen

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* Taiwan September exports +29.2% y/y vs +25% Businesshala poll

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* September imports +40.4% y/y vs +41.2% in turnout

* Finance Ministry expects October exports to be +21% to +25% y/y

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* Outlook good ahead of year-end holiday shopping season

TAIPEI, Oct 8 (Businesshala) – Taiwan’s exports rose for the 15th straight month in September, faster-than-expected pace to set a new record, as the island’s makers face continued demand amid a global shortage of computer chips and consumer electronics . .

Exports in September were the highest monthly figure on record, rising 29.2% to $39.65 billion from a year earlier, the finance ministry said on Friday.

Analysts in a Businesshala poll had forecast a 25% increase for September, compared to a 26.9% increase in August.

The ministry attributed the growth to strong demand and rising prices of chips, shortages of which have paralyzed car plants globally and affected consumer electronics, and a gradual economic boom following the pandemic across the globe. came back.

Electronics exports hit a record high of $16.58 billion in September, with semiconductor exports rising 27.6% from a year earlier.

Firms such as Taiwan Semiconductor Manufacturing Company Limited (TSMC) are providers of chips for auto companies and lower-end consumer electronics, along with Apple Inc and other global tech giants.

The ministry warned of further risks, including uncertainty over the COVID-19 pandemic and the impact of power cuts in China on supply chains.

But it said the outlook for the fourth quarter was good, with new consumer electronics coming into the market and the year-end holiday season, traditionally a busy time for Taiwanese tech firms, helping exports.

September exports to Taiwan’s biggest trading partner China rose 23.1% year over year to $17.49 billion, while exports to the United States grew 34% year over year.

Imports rose 40.4%, under economists’ expectations for a 41.2% increase and a 46.3% increase in August.

The ministry said Taiwan could see an increase of 21% to 25% in October’s exports compared to a year ago.

China will release its trade data on October 13. (Reporting by Emily Chan and Ben Blanchard; Editing by Simon Cameron-Moore)


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