Increasing global chip demand pushes Taiwan’s export orders to record high

Global demand for semiconductors, fueled by 5G and high-performance computing, showed little sign of easing off as Taiwan’s searing pace of export orders continued for a fifth straight month.

Export orders grew 33.3% to $53.7 billion in March, Taiwan’s Ministry of Economic Affairs said on Tuesday. Economists had forecast an increase of 34.9% in a Bloomberg survey. The data for March set a record high for the month.

Officials see the strong growth continuing for a sixth month, with the ministry predicting orders will increase by between 29.8% and 33.7% in April.

Demand from end-users is returning as the global pandemic begins to ease, the ministry said in its statement. Components needed for remote-working devices, 5G equipment, high-performance computing and vehicles bolstered growth in orders.