TAIPEI (Taiwan News) — Taiwan’s exports recorded the 26th month of continuous rises in August, but their growth rate of 2% was lower than expected, reports said Wednesday (Sept. 7).

The Ministry of Finance (MOF) said exports totaled US$40.34 billion (NT$1.24 trillion), 2% more than in Aug. 2021. Exports showed an increase of 3.5% over the same period to reach US$37.35 billion last month, CNA reported.

For the period from Jan. to Aug. 2022, Taiwan’s exports totaled US$330.32 billion, a rise of 16.2% compared to the same period in 2021, according to the MOF data.

Earlier Wednesday, Central Bank Governor Yang Chin-long (楊金龍) predicted slower but stable economic growth and inflation below 2% for Taiwan in 2023.