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Economy

Taiwan's May exports surge on tech demand as COVID clouds outlook

Island sees risks ahead from domestic infections and slow vaccine deliveries

Companies such as Taiwan Semiconductor Manufacturing Co. enjoyed strong demand for tech products to support remote working and the "no touch" economy during the pandemic.   © Reuters

TAIPEI (Reuters) -- Taiwan's exports rose for an 11th straight month in May, and far exceeded expectations, boosted by global demand for microchips and hi-tech gadgets in the work-from-home pandemic boom, but the island's own COVID-19 spike could cloud the outlook.

Exports rose 38.6% from a year earlier to $37.41 billion last month, the Ministry of Finance said on Tuesday, setting a new historical high in value terms for a single month.

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