Taiwan’s exports climbed 13% on a year earlier in June. The resulting trade deficit of $5.8 billion set a new record and was 1.8x the level expected by economists. Shipments to China led the way with a 21% improvement, and could go further after Chinese managers’ import sentiment improved recently. Exports of integrated circuits jumped 23%, suggesting electronics production across Asia should grow in the coming months. Officials say the 5% growth targeted for the second half, after 12% in the first, will partly depend on telecoms sales including the iPhone 8.