Taipei--Outbound sales of Taiwan-made memory chips soared almost 40 percent year-on-year in the first quarter on demand in emerging applications in the Internet of Things and automotive electronics, according to the Ministry of Economic Affairs (MOEA).
In the January to March period, Taiwan's exports of memory chips totaled US$2.37 billion, up 39.1 percent from a year earlier, the ministry said.
The increase was driven by higher demand in a wider range of applications and high-tech , devices as the global economy showed signs of a recovery, the MOEA said.
Another factor was a relatively low comparison base in the same period of last year, when inventory adjustments were in progress, the ministry said.
China and Hong Kong have been the top market for Taiwan memory chips in recent years and remained so in the first quarter, accounting for 76.6 percent of the total memory chip exports, the MOEA said.
They bought US$1.82 billion worth memory chips from Taiwan, up 35.3 percent from a year earlier, with random access memory chips accounting for 66.3 percent of the total, MOEA data showed.
Singapore was the second largest market, absorbing 8.3 percent of Taiwan's memory chip exports, followed by Japan (5.8 percent), South Korea (2.2 percent), the United States (1.6 percent), and Germany (1.4 percent), the MOEA data showed.
Source: Focus Taiwan News Channel