cens logo

Sept. Exports Sees 2nd High Year-On-Year

Oct 09, 2018 | By CENS

Taiwan's exports reaches a second-high for September at US$296.20 billion, compared to the same figures as last year, reported Ministry of Finance (MOF) statistics.

The island's exports have reached a three-month consecutive growth rate, however, among the four prime markets that Taiwan is exporting to, Southeast Asian markets have performed dismally: exports to the region have fallen for three months, despite the government's attempts to bolster its New Southbound Policy.

MOF states that September's export value grew 2.6% compared to last year's figures; compared to exports in August, last month was also a 4.7% growth. In the past nine months of the year, the island has accumulated US$250.1 billion in exports, a 8.1% year-on-year growth.

The government's top finance regulation agency's press release indicated September's positive results were a surprise, suggesting several factors that contributed to the good news, despite there less working days due to the Mid Autumn Festival: rising global oil prices and IC products' increasing demands.

Not considering the Chinese New Year holidays in February, September's exports also represented a consecutive 23-month growth.

In Taiwan's four main export countries, last month saw steady growth in exports towards China, Hong Kong, the U.S., and Japan, with performance towards U.S. at the highest with 9.4%.

On the consecutive drop of exports towards the Southeast Asian region, the MOF suggested the decreasing demand of electronic parts in Singapore and mineral products to the Philippines as “systematic factors.” Government officials pointed to the Chinese government's aggressive move to bolster its semiconductor industry, resulting in global factories in Singapore's exodus to China.

That in turn had affected Singapore's demands for parts from Taiwan; the Philippines is also working closer with China to diversify its energy resources, decreasing its need for diesel from Taiwan.

Other factors that resulted in a positive September performance includes the U.S.-China trade war, which saw several industries transferring orders to Taiwan, as well as U.S. companies shipping orders out before the wave of tariffs were implemented last month.

news-photoChart indicates export and growth rate value in the past year versus export value in U.S. dollars.The blue-coded bar graph represents export value; orange line graph represents annual growth rate. (photo taken from Ministry of Finance)

Original Chinese Article: CENS.com


Industry In-Focus

CENS.com shores up biz-matching at Moscow MIMS

Sep 26, 2018

MIMS Automechanika Moscow 2018 kicked off from Aug. 27 to Aug. 30 at ExpoCentre in Moscow, where over 1,200 exhibitors from 40 countries around the world, occupying 40,000 sq meters of showroom space. The show was organized by ITEMF EXPO, founded by ITE, Automechanika Frankfurt and Messe Frankfurt. As the organizing team are well-respected and highly influential in Russia, Eastern Europe and C...


TIER warns of prosperity decline post-boom due to trade war and other factors

Sep 25, 2018

With the trade war between the U.S. and China escalating, Taiwan Institute of Economic Research (TIER) has sounded the alarm as forecasts for both manufacturing and service indexes tumbled. The think tank warned that Taiwan’s business climate will likely see a sudden down drop and urged increased awareness of the potential impact of the trade war would have on Taiwan’s exports. The think tank ...


Foxconn to join forces with GE for cross-country innovation

Sep 10, 2018

In a bid to increase cross-country innovative transformation, Foxconn Technology Group was reportedly on the table for potential partnership with the U.S.’ General Electric Company (GE). Reports indicate that GE was offering a good-willed opportunity that was green-lighted by Foxconn CEO and Chairman Terry Guo. Guo reportedly ordered a delegation of high-ranking managers to visit GE subsidiar...



Industry Reports

Chuan Chan Oil Seal Company offers design and production of oil seals and rubber parts

Oct 05, 2018

Chuan Chan Oil Seal Company was established in 1987, since then, the company has obtained over 30 years of experience in developing and manufacturing various oil seals. Thanks to all the support from various industries, Chuan Chan Company has grown into of the most experienced oil seal manufacturers and provides the most diverse range of products. At present, the products are successfully sold ac...

CHUAN CHAN OIL SEAL CO., LTD.


Fullamp offers exceptional motorcycle starter motors and magnetic A.C. generators

Oct 01, 2018

CENS.com - Rosa Lo Fullamp International Co., Ltd. has stuck to its four core managing principles – integrity, quality, innovation and sustainability—over the course of 30 years since its foundation. Offering quality products has always one of the firm’s core values and they have continuously achieved that by focusing on starter motors and magnetic A.C. generators for motorcycles in terms of d...

FULLAMP INTERNATIONAL CO., LTD.


Modern Auto Products Corp. leverages optical expertise for quality vehicle mirrors

Oct 01, 2018

Founded in 1985, Modern Auto Products Corp. started off its business through manufacturing mirrors and eventually moved towards developing replaceable rearview mirrors. In recent years, Modern Auto has also chosen to invest and expand its sales for rearview mirrors in the truck industry. With decades of strong, professional expertise in optical coating, Modern Auto’s prowess in developing and ...

MODERN AUTO PRODUCTS CORP.



Supplier News

Chuan Chan Oil Seal Company offers design and production of oil seals and rubber parts

Oct 05, 2018

Chuan Chan Oil Seal Company was established in 1987, since then, the company has obtained over 30 years of experience in developing and manufacturing various oil seals. Thanks to all the support from various industries, Chuan Chan Company has grown into of the most experienced oil seal manufacturers and provides the most diverse range of products. At present, the products are successfully sold ac...

CHUAN CHAN OIL SEAL CO., LTD.


Benign Enterprise Launched Brand New BMT 3520 Universal Milling Machine

Oct 04, 2018

■ Lisa, Kuo Benign Enterprise's newly launched milling machine can be used for high-precision/heavy-duty machining, and perform horizontal milling on sides. The features of the universal milling machine include: 1. Improved upon the design of the old German-style Maho universal milling machine. 2. The hardened and precision ground table mounted on worktable is capable of high-precision and hea...

BENIGN ENTERPRISE CO., LTD.


Fullamp offers exceptional motorcycle starter motors and magnetic A.C. generators

Oct 01, 2018

CENS.com - Rosa Lo Fullamp International Co., Ltd. has stuck to its four core managing principles – integrity, quality, innovation and sustainability—over the course of 30 years since its foundation. Offering quality products has always one of the firm’s core values and they have continuously achieved that by focusing on starter motors and magnetic A.C. generators for motorcycles in terms of d...

FULLAMP INTERNATIONAL CO., LTD.



Insiders' Views

Part 1 Megvii Technology Founder Interview: Face++ AI Facial Recognition sets eye on Asia, starting with Taiwan

Sep 07, 2018

Using facial recognition to remove security checks and recognizing criminals sounds like technological applications out of a movie, though much of it is already implemented in everyday life. Having been founded for only seven years, Megvii Technology Limited, or more commonly known for its facial recognition and AI application Face++, owns critical technology by combining both, and now, recently ...

FOXCONN TECHNOLOGY


Megvii Technology Founder Interview Part 2: Face++ AI Facial Recognition sets eye on Asia, starting with Taiwan

Sep 07, 2018

Tang Wenbin, founder and CEO of Megvii Technology, will be visiting Taiwan next week, but accepted an overseas interview with Economic Daily News on Sept. 6. This is the second installment of the interview. Aiming for a complete application; forming a city’s “brain” Q: What are the goals and strategy for the next phase? A: When the company first started off, we had to find a way to impl...

FOXCONN TECHNOLOGY


MPN's Editor-at-large Provides Holistic, In-depth Insights into U.S. Market for Powersports

Industry veteran suggests Taiwanese suppliers establish market presence as priority

May 24, 2018

One of the concurrent events held during the 13th Taiwan International Motorcycle Industry Show (Motorcycle Taiwan 2018), the seminar titled “Turning New U.S. Powersports Business Opportunities” was rounded off with overwhelming acclaim from the audience as a resounding success, mostly thanks to the excellent quality of the lecturers invited, all of whom are seasoned veterans and experts at high ...



Exhibition Highlights

Taiwan Hardware Show 2018-‘Made in Taiwan' Hardware for Global Applications

Sep 28, 2018

Taiwan has long been a great source for the latest high-value hardware products with competitive prices for international buyers. Against the country’s outstanding production and R&D capabilities, prompt delivery and international sales and distribution network, Taiwanese manufacturers are recognised as reliable business partners to global hardware businesses. Matching the quality expectations an...


Taiwan Innotech Expo Presents Creative and Functional Marriage of Technology

Sep 28, 2018

Taipei-2018 Taiwan Innotech Expo (formerly known as Taipei Int’l Invention Show & Technomart/Taipei Inst) kicked off on Sept. 27, showcasing 496 exhibitors throughout the three-day event. Exhibitors have come all around the world to attend the show, including the U.S., Canada, Japan, South Korea, Thailand, the Philippines, Vietnam, Singapore, Malaysia, Indonesia, Australia and New Zealand...


Brilliant Lighting Options in Premier Marketplace

Sep 27, 2018

The Hong Kong Trade Development Council will stage the 3rd Hong Kong International Outdoor & Tech Light Expo from 26 to 29 Oct 2018 at the AsiaWorld-Expo. The Outdoor and Tech Light Expo is expected to host more than 410 specialist exhibitors from around the world, making it a rich source of lighting for commercial and industrial use. Horticultural Lighting Zone Debuts at Outdoor & Tech L...