TAIWAN CHIP AND TECH EXPORT INCREASES
The Ministry of Economic Affairs (MOEA) reported on Monday the value of export orders with Taiwan businesses in May totaled NTD 52.3 billion - a 34.5 percent year-over-year increase and a 15 month consecutive growth. From January to May this year, Taiwan’s export orders totaled USD 256 billion - an annual increase of 41 percent. However, officials see a slightly slowing increase in demand for June, predicting orders will increase by 28.1 percent to 31.7 percent in June. Earlier this month, Japan and TSMC signed off on a USD 338 million semiconductor project to develop cutting edge chip technology. Taiwan’s expansion in the chip industry has grown substantially to meet global demands for semiconductors. Taiwan factories have been running at full capacity since 2020, in part due to the lower impact of COVID in Taiwan in 2020.