Taiwan’s exports continue growing on strong demand for chips

Taiwan added to signs the global economy is shaking off the effects of the coronavirus pandemic, with exports rising for an eighth straight month in February.

Overseas shipments rose 9.7% last month to a record high for February, fueled by exports of electronics and semiconductors, the Ministry of Finance said Tuesday in Taipei. Imports rose 5.7% and the trade surplus was $4.51 billion.

Exports will likely grow between 15% and 20% this month with display panels joining semiconductors as a new driver of growth due to supply shortages and rising prices, the ministry’s chief statistician Beatrice Tsai said at a briefing.