Taiwan's April exports surge, propelled by chip exports

TAIPEI, Taiwan (AP) — Taiwan’s exports rose by double digits in April, boosted by demand for processor chips as global manufacturing revived.

Exports increased 38.7% over a year earlier to $35 billion in April, the 10th straight month of gains, Ministry of Finance data showed Friday. Imports advanced 26.4% to $28.8 billion.

Exports of electronic parts increased 38.6% to $13.5 billion, accounting for about 40% of sales.

Taiwan is a major supplier of processor chips used in smartphones, cars and consumer electronics.

“We remain optimistic about goods exports outlook and expect over 20% growth in U.S. dollar terms in 2021,” Lloyd Chan of Oxford Economics said in a report.