Taiwan replaces Singapore as world’s 3rd largest IC exporter: MOF

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Taipei, Taiwan was ranked as the third largest integrated circuit exporter in the world in 2016, overtaking Singapore, according to the Ministry of Finance (MOF).

In its latest report on global IC exports, the ministry said Friday that Taiwan's outbound semiconductor sales increased by an annual 10.6 percent in 2016 to US$86.12 billion.

The figure accounted for 13.6 percent of the global IC exports in 2016 and lifted Taiwan one notch higher in the world rankings to third place, displacing Singapore, the ministry said.

The increase in Taiwan's IC exports reflected higher global demand for mobile devices, the Internet of Things, automotive electronics, high performance computing, and other applications, the MOF said.

Singapore, meanwhile, dropped to fourth place in the global rankings as it saw a 4.1 percent annual decrease in IC exports to US$80.99 billion, accounting for 12.8 percent of the global total, the MOF's report showed.

Hong Kong, an international trade hub, topped the rankings with IC exports of US$111.86 billion, accounting for 17.6 percent of the global total, according to the report.

China, which has a broad production base, was second with IC exports of US$89.46 billion, accounting for 14.1 percent of the global total, the MOF data showed.

It said the world's five largest IC exporters in 2016 were all in Asia, as South Korea was ranked fifth with a 9.1 percent share, ahead of the United States with 6.6 percent.

In 2017, the semiconductor sector industry remained the backbone of Taiwan exports, accounting for 31.4 percent of its total outbound sales, rising from 30.7 percent in 2016 and 27.3 percent in 2015, the report showed.

In terms of imports, China was the largest IC buyer in the world in 2016, accounting for 33.6 percent of the global total, followed by Hong Kong (17.3 percent), Singapore (7.7 percent), the U.S. (5.9 percent), Taiwan (5.2 percent) and South Korea (4.5 percent), according to the MOF.

Source: Focus Taiwan News Channel