Taiwan November exports rise 12% amid sombre regional outlook

Strong semiconductor demand and improving prices of basic metal, crude oil and related products boosted exports last month.

Taiwan November exports rise 12% amid sombre regional outlook
A truck is reflected in a rain puddle at Keelung port, northern Taiwan, March 20, 2016. REUTERS/Tyrone Siu/

Taiwan's exports expanded 12.1 percent in November from a year earlier to US$25.34 billion, data showed, indicating stable recovery in the Asian manufacturing hub amid gloomy numbers from the broader region.

The growth in Taiwan's exports was the sharpest month rise in nearly four years, with all product categories except transportation tools registering impressive growth, the finance ministry data showed.

Strong semiconductor demand and improving prices of basic metal, crude oil and related products boosted exports last month, the finance ministry said.

"Exports are set to recover faster than projected for this quarter and beyond thanks to strong demand for smartphones and the latest electronic components," Department of Statistics Director-General Beatrice Tsai said, according to the Taipei Times.

Positive numbers from Taiwan come in the backdrop of sluggish growth in the region given sombre global demand and a commodities price crash.

While exports to all destinations improved, growth in shipments to China and ASEAN markets were the most robust. The shipments to these markets accounted for 83 percent of the bounce in November exports.

Shipment of electronic components to the US rose 26.9 percent to US$8.79 billion and semiconductor exports to US expanded 35.3 percent to US$7.54 billion.

Overall value of exports to the ASEAN grew 13.5 percent to US$4.6 billion and those to the US and Europe increased 9.1 percent and 1.9 percent respectively.

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