Analysis
Taiwan Exports In 2021 At A Record High Of $446.45 Billion Boosted By Huge Demand For Semiconductor Chips And Electronics
Swarajya Staff
Jan 08, 2022, 11:07 PM | Updated Jan 09, 2022, 03:19 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
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 recorded a trade surplus of US$65.28 billion in 2021, up 10.7 percent from a year earlier, the data showed.
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.
In 2021, exports of made in Taiwan electronics components soared 26.9 percent from a year earlier to US$172.01 billion, with semiconductor chip 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.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.