Taiwan’s semiconductor exports fall for sixth consecutive month
Taiwan’s exports of integrated circuit chips last month fell for the sixth consecutive month due to slowing global demand. Taiwan’s semiconductor exports fell 20.8 percent from a year earlier to a four-month low of USD 12.6 billion, Ministry of Finance data showed.
Taiwan is home to Apple Inc and Nvidia Corp’s go-to chipmaker, Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), along with a collection of smaller, but important semiconductor industry players.
The annual decline in semiconductor exports was the largest since March 2009, partly reinforced by a high base in June last year.
“Demand for integrated circuits continues to be weak,” the ministry said in a statement accompanying the data, as sticky inflation and continuous interest rate hikes by central banks have slowed the global economy.
Consumer technology companies have spent much of this year working through an inventory surplus, which is expected to weigh on sales for companies like TSMC at least through the end of the year.
Smartphone sales have yet to resume growth after a prolonged slump last year, while PC and laptop manufacturers are also struggling to force new purchases and continue to see double-digit declines.
Trade tensions between the US and China have also affected Taiwan’s largest industry. Shipments to China, including Hong Kong, which together account for more than 50 percent of Taiwan’s semiconductor exports, declined for an eighth consecutive month, the data showed.
However, Yuanta Securities Investment Consulting Co (元大投顧) is cautiously optimistic about Taiwan’s semiconductor industry’s business outlook for this quarter.
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