Taiwan’s July export orders rise for fifth consecutive month

Taipei,  Taiwan’s export orders in July grew more than 12 percent from a year earlier, marking the fifth consecutive month of year-on-year increases, the Ministry of Economic Affairs (MOEA) said Thursday.

The value of orders received by Taiwan-based companies in July totaled US$45.57 billion, up 12.4 percent from a year earlier, data compiled by the MOEA showed.

On a month-on-month basis, the figure in July was up by 11.1 percent, the data indicated.

The upward trend can be attributed to growing demand for Taiwan’s electronic components by the world’s semiconductor industry, the ministry said, noting however that demand for traditional goods continues to be impacted by the COVID-19 pandemic.

Based on the MOEA’s July data, shipments of electronic and information and communications products from Taiwan totaled US$13.24 billion and US$14.43 billion, respectively, making them the two largest export commodities that month.

Meanwhile, other items including basic metals, machinery and optical apparatus stood at US$2.03 billion, US$1.78 billion, and US$2.13 billion, respectively, data showed.

The ministry said it expects booming demand for the country’s information technology products over the remainder of the year, thanks largely to the expanding implementation of 5G networks and growing applications in the fields of artificial intelligence.

Demand for Taiwan’s traditional goods is also forecast to rebound on the back of recovering international crude oil and steel prices, the ministry said.

However, the continuing trade dispute between the United States and China, coupled with the ongoing pandemic, means the outlook for Taiwan’s overall exports still needs to be closely monitored, the MOEA said.

 

Source: Focus Taiwan News Channel

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