Taiwan Exports Surge to Record, Defying Predictions of Slowdown

Taiwan’s exports grew faster than even the most bullish economist forecast last month, fueled by ongoing global demand for semiconductors.

Exports rose 29.2% in September from a year earlier to a record $39.7 billion, according to a statement from Taiwan’s Ministry of Finance on Friday. That compares to a median estimate of 25% in a Bloomberg survey of economists. Imports surged 40.4% to $33.2 billion, the second highest reading on record. The trade balance widened to $6.5 billion, it’s highest since October last year.