The world had a tough time in the pandemic which is still ongoing and the lockdowns did have an impact on the economy to most countries. Now that people are still living under the pandemic in a new way, manufacturing and industries have also started and there’s a huge demand in electronics including TVs, notebooks, PCs, smartphones and a lot more.
Taiwan houses a lot of big tech companies including TSMC, MediaTek, Acer, ASUS, and others who have helped shaped the country and made it a great place for investments. Now, the country has become the hotspot for electronics and its exports have totaled to a whopping US$31.17 billion in August 2020.
This is the record monthly level revenue via export with a growth of 10.6% compared to the previous month and 8.3% on YoY. On the other hand, imports have reached US$24.71 billion, which is 8.2% more sequentially and 8.5% on YoY, according to the Ministry of Finance (MOF) of Taiwan.
As rightly stated the most of this exports have been dominated by electronic components that had the largest export value of US$12.484 billion in the month of August. Wherein, this growth is 13.7% more sequentially and 19.1% more on YoY basis and the IC shipments have accounted for about 90.4%.
This proves that Taiwan is growing at a rapid pace and its chip manufacturing is a large part of its income source and the amazing progress it’s making is truly exceptional as an Asian country.
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