Taiwan Electronic Exports Boom

Blolomberg reports that Taiwan's economy is booming. Let's hope it booms for a good long time....

Taiwan's exports probably rose at the fastest pace in four months in April because consumers in the U.S. and Europe spent more on the island's electronics.

Overseas shipments probably increased 8 percent from a year earlier after gaining 7.1 percent in March, according to the median forecast in a Bloomberg News survey of 11 economists. The figures will be released today at 4 p.m. in Taipei.

Taiwan Semiconductor Manufacturing Co., the world's biggest supplier of custom-made chips, expects second-quarter revenue to increase from the previous three months on stronger global demand. Rising exports, which account for about half of the island's $305 billion economy, helped drive the fastest economic expansion in 18 months in the fourth quarter.

``Exports of Taiwanese electronics are better than expected in the second quarter, the traditional slow season,'' said Renee Chen, an economist at Citibank Taiwan. ``Improved sentiment in global economies like the U.S. helped spur Taiwan's overseas sales.''

Allowing for distortions caused by a change in timing of Lunar New Year, last month's export increase would be the largest since December.

.........

U.S., Europe

Retailers in the U.S. reported the biggest sales gain in more than two years last month as Easter and warmer weather spurred spending on spring clothing.

Bloomberg provided a table of estimates....

-------------------------------------------------------------
Exports Imports Trade Bal.
Forecaster YoY YoY (USD Bln)
-------------------------------------------------------------
Median ...... 8.0%......2.5% ....$1.49
Average ......8.1% .....2.7% .....$1.47
High ...........11.3% ......5.5% ......$2.10
Low ............ 5.7% ......0.3% ......$1.00
Number of Forecasts 11 .........11 ............10

Action Economics ......7.0% ....5.5% ......$1.00
Barits Int'l Securities ...7.1% .....0.3% ......$1.81
CIMB-GK Research .7.8% ......2.6% ......$1.57
Capital Economics .....6.7% ......1.0% ......$1.70
Citigroup ..................8.6% ......5.2% ......$1.30
Grand Cathay Securities 9.5% ......5.5% ......$1.40
Lehman Brothers ............8.5% ...... 2.0% ......$1.10
Royal Bank of Scotland 9.3% ......2.5% ......$1.10
Taiwan Securities Investment 5.7% ......0.6% ......$1.60
Thomson IFR ........................11.3% ......2.9% ......$2.10
UBS ....................................8.0% ......2.0% ...... n/a

[Taiwan]