[The Epoch Times, May 9, 2022](The Epoch Times reporter Hou Junlin reported in Taipei, Taiwan) Taiwan’s export performance in April was outstanding, with a scale value of US$41.46 billion, the third highest in a single month over the years, with an annual growth rate of 18.8% , also showed positive growth for 22 consecutive months. The Ministry of Finance said on the 9th that the export momentum continued to strengthen in May, and the scale value was estimated at 41.9 billion to 43.4 billion US dollars, with an annual growth rate range of 12% to 16%, which is expected to hit the strongest May in history.
Cai Meina, director of the Statistics Division of the Ministry of Finance, said that Taiwan’s exports benefited from technological innovation, the trend of digital transformation, the improvement of bottlenecks in the supply chain, and the rise in the international raw material market. The value came to US$41.46 billion, with an annual growth rate of 18.8%, maintaining positive growth for 22 consecutive months.
Cai Meina pointed out that among the 11 categories of goods, 9 items showed an increase. In terms of technology products, due to the high-performance computing of electronic components, the strong demand for automotive electronics, and the effect of chip price increases, the export value was 17.21 billion. The U.S. dollar hit the second highest in a single month, with an annual growth rate of 27.5%, showing positive growth for 36 consecutive months, the second longest expansion cycle in history.
As for conventional products, the export of mineral products has the highest annual growth rate, up to 59.4%, mainly because the quotations of mineral products have risen with the international crude oil market; Gas remained high, with an annual export growth rate of 26.1%; chemicals also benefited from the rise in price and volume, with an export value of US$2.31 billion, a record for a single month, with an annual growth rate of 21.9%.
Optical equipment is undoubtedly the weakest link. Affected by factors such as weak panel supply and demand structure and more conservative client purchases, the price decline has expanded, and exports have decreased by 15.6%, showing a decline for 6 consecutive months, with a scale value of only 920 million The dollar is at a 22-month low.
Cai Meina said that the performance of exports to the five major markets in April was quite divergent. The most obvious one was that Taiwan’s export momentum to mainland China and Hong Kong weakened slightly. The export value reached 16.34 billion US dollars, and the annual growth rate contracted to 10.6%. Except for electronic components, most of the goods fell, mainly due to the anti-epidemic policy in mainland China and the economic consolidation stage, which significantly impacted production and final consumption.
However, the best export momentum is in Europe and the United States. Taiwan’s exports to Europe in April reached US$3.63 billion, the third highest in a single month over the years, with an annual growth rate of 26.5%; as for exports to the United States in April, the growth rate was 26.6%, accumulatively from January to April this year. The monthly export growth rate was 34.1%, which was the largest growth rate in the same period of the previous year.
Looking forward to the future, Cai Mina estimates that exports in May this year are expected to stand above 40 billion US dollars, between 41.9 billion and 43.4 billion US dollars. It is still possible to see the strongest May in the past years, and there is a chance to enter the previous year’s single-month scale. 2, and the annual growth rate will remain at double-digit growth, with an increase of about 12% to 16%.
However, Cai Meina also pointed out the five major headwinds in the global economy this year, including the threat of the new crown virus, the zero-resistance of the Chinese mainland, the extension of the war between Russia and Ukraine, rising global inflation and supply chain instability. It is generally agreed that consumer products such as smartphones, TVs, laptops or personal computers will bear the brunt of the impact.
Fortunately, emerging applications such as high-performance computing, 5G, and automotive electronics, as well as enterprise-side needs such as Netcom, servers, and industrial automation control products, still support the export momentum.
Responsible editor: Chen Minqi#