Mubasher: Taiwan’s exports surged 14.8% year-on-year to $29.51 billion in December 2017, beating expectations.

The explicit hike came on the back of external demands, growing for the 15th month in a row, the finance ministry reported on Monday.

Five economists estimated the increase at 9.7%, according to a survey by the Wall Street Journal (WSJ).

Exports of electronic components jumped 21%, representing 35% of the country’s exports, while machinery exports hiked 28%.

The value of shipments to mainland China and Hong Kong represented 43% of the total exports.

Europe topped Taiwan’s importers list with 21%, followed by the US with 12%.

In December, Taiwan’s trade surplus rose to $6.13 billion from $5.96 billion the prior month.

Meanwhile, imports rose 12.2% to $23.38 billion in December, also beating the median forecast for a 9.7% gain.