Taiwan exports grow better than expected in August following rise in year-end shipments

Exports in Taiwan grew better than expected during the month of August, following rise in overseas shipments at the approach of Christmas by year-end. Also, global retailers have begun stocking up smart phones and other electronic gadgets to meet the inflated demand that is expected to arrive by year-end festive mood.

Taiwan’s exports rose 1.0 percent from a year earlier, expanding for the second month after July's 1.2 percent rise snapped a 17-month losing streak. While that beat market expectations for a 0.4 percent rise, the rate of expansion was still timid.

Further, exports to China and the United States, Taiwan's top two markets, rose 3.5 percent and 5.7 percent on-year, respectively, the ministry said, adding it expects further improvement in shipments to major markets.

Moreover, exports to Europe rose 2.1 percent, but those to Japan fell 1.9 percent. Imports slipped just 0.8 percent, marginally worse than a 0.2 percent in July but much better than the 3.4 percent decline that economists had feared.

Meanwhile, the trade outlook remains unclear, with the iPhone 7 version having launched on Wednesday, which would direct into a saturated market where consumers are opting for lower-priced rivals that pack the same features and quality, Reuters reported.