Taiwan Exports In 2021 At A Record High Of $446.45 Billion Boosted By Huge Demand For Semiconductor Chips And Electronics

Boosted by a global surge in demand for electronic components and semiconductor chips, Taiwan exports touched a record high of $446.45 billion in 2021.

The trade data was released by Ministry of Finance (MOF) on Friday.

Taiwanese exports registered a growth of 29.4 percent compared to the previous year (2020).

Taiwan's imports too touched a records high, rising by an annual 33.2 percent to US$381.17 billion.

Taiwan's overall trade surplus stood at US$65.28 billion in 2021, up 10.7 percent from a year earlier, the data showed.

In the month of December, total exports expanded 23.4% year on year to US$ 40.72 billion; total imports rose by 28.1% from a year earlier to US$ 34.95 billion

Focus Taiwan quoted MOF statistics chief Beatrice Tsai as saying that Taiwan had recorded higher export growth than its neighboring rivals South Korea, Hong Kong and Singapore for three straight years now.

In 2021, exports of Taiwan-made electronics components rose 26.9 percent from a year earlier to US$172.01 billion, with semiconductor outbound sales growing 27.1 percent from a year earlier to US$155.50 billion.

Exports of Taiwan information and communications gadgets, as well as audio and video devices, also showed strong growth, climbing 24.8 percent from the previous year to US$61.35 billion, the MOF said.

Exports of Taiwan information and communications gadgets, as well as audio and video devices, also showed strong growth, climbing 24.8 percent from the previous year to US$61.35 billion, the MOF said.