Taiwan Broke A Record In Exports Due To The Chip Crisis

Taiwan broke a record in exports due to the chip crisis. The chip crisis, which has been on the agenda lately, has benefited Taiwan.

The effect of increasing chip demand on exports of Taiwan, which is one of the important centers of chip production in the global economy, was felt rapidly. According to the data released by the Ministry of Finance of Taiwan, exports in April increased by 39 percent compared to the same period of the previous year and amounted to 35 billion dollars. In the same period, the country's imports increased by 26.4 percent, while the foreign trade surplus in the country's economy was recorded as 6.18 billion dollars. As it will be remembered, a major chip crisis arose especially in the automotive sector, and the production of many automotive giants had come to a complete halt.

Chip Crisis May Continue

Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest chip maker, raised its revenue estimates for this year, taking into account the global chip crisis. The company stated that the chip crisis that caused automotive giants such as GM, Nissan, Volkswagen and Ford to pause production will decrease. But on the other hand, CEO C.C. Wei told analysts in a teleconference that the crisis could possibly continue throughout 2021 and next year.