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If you want a solid indicator of how the export-driven Taiwanese economy is faring, don’t worry about trawling through the Ministry of Finance’s website, just check out where Apple stocks are trading.
There is a strong correlation between the year-on-year growth of Taiwan’s electronics exports and year-on-year changes in Apple’s share price – as shown in this Chart of the Year, originally produced by ANZ’s China team.
While it is not always a smooth ride, happily for Taiwan and its basket of key Apple suppliers, the tech giant’s shares are up 48 per cent in 2017. No real surprise then that on Friday Taiwan beat analyst expectations to post record monthly exports of US$28.9bn in November.
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