*
April exports -13.3% y/y vs -18.15% forecast in Reuters
poll
*
Exports to China -22.0% y/y (previous month -28.5% y/y)
*
Govt forecasts May exports to decline 12.5% - 15.5% y/y
*
H1 exports annual fall set to be biggest in 14 years -
govt
(Recasts, adds details throughout)
By Roger Tung and Faith Hung
TAIPEI, May 8 (Reuters) - Taiwan's exports exceeded
analyst forecasts but still contracted for the eighth straight
month in April, as demand for its tech products remained soft,
especially from its biggest market China.
Exports last month were down 13.3% by value from a year
earlier at $35.96 billion, the Ministry of Finance said on
Monday.
The was better than a 19.1% annual drop in March and topped
a Reuters poll forecast for an 18.15% contraction.
The island's export-driven economy contracted more than
expected in the first quarter and slipped into recession. Taiwan's total shipments of electronic components in
April fell 8.6% from the year before to $15.74 billion, with
semiconductor exports down 7.1%, it said.
Looking ahead, the ministry expects May exports to decline
between 12.5% and 15.5% on year, while the drop in shipments in
the first half is set to be the biggest in 14 years, it said.
The ministry also reiterated that the weakness in exports would not turn around until the fourth quarter.
Firms such as TSMC , the world's largest
contract chipmaker, are major suppliers to Apple Inc and other global tech giants, as well as providers of chips for
auto companies and lower-end consumer goods.
At $12.74 billion in April, Taiwan's exports to China
were down 22%, after showing a 28.5% annual drop in the prior
month.
The finance ministry said global inflation and ongoing
monetary tightening in major economies would continue to weigh
on external demand, coupled with other risks such as the war in
Ukraine and China-U.S. trade tensions.
Exports to the United States fell 10.3% in April, after
slumping an annual 20.7% in March.
Taiwan's April imports, often seen as a leading indicator of
re-exports of finished products, fell 20.2% to $29.25 billion.
That compared with economists' forecast of an 18.0% decline and
a 20.1% fall in March.
(Reporting by Roger Tung and Faith Hung, Editing by Louise
Heavens and Jacqueline Wong)
