Export orders forecast to keep on growing in August: ministry
CNATAIPEI--Taiwan's export orders are expected to continue to grow in August on the back of rising popularity of handheld devices in the global market, the Ministry of Economic Affairs (MOEA) said yesterday.
September 22, 2013, 12:01 am TWN
The MOEA said solid demand for low and mid-range smartphones in the world market is expected to prompt foreign buyers to place large orders on Taiwan-made semiconductors and other electronics components as the country serves as one of the most important suppliers to international brands.
In addition, the ministry said demand for petrochemical products in the global market has shown signs of recovering and because of this Taiwan's exporters are expected to benefit from such a positive lead.
In July, Taiwan's export orders rose 0.5 percent from a year earlier to US$36.11 billion, marking the first year-on-year growth in export orders since January 2013, when the figure was up 18 percent from a year ago.
The MOEA said the growth in export orders is likely to continue in August. The ministry is scheduled to release the August data on Sept. 25.
Last month, export orders placed on locally made information and communications products grew 2.7 percent from a year earlier, while export orders secured by local electronics makers rose 0.3 percent.
Orders on local chemical products gained 8.3 percent year-on-year in July, while those on Taiwan-made precision products fell 0.3 percent from a year earlier.
The MOEA cited a survey as saying 19.4 percent of local exporters thought that their export orders for August will surpass orders placed in July, while 22 percent of them predicted that their August orders will fall from July.
The survey also showed 57.7 percent of the respondents thought their August orders will stay little changed from July, according to the MOEA.
The ministry said judging from the survey, it is possible that export orders on locally made information and communications products, electronics goods and precision products will rise in August.