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June 23, 2017

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Export orders over June grow by more than 10%

TAIPEI, Taiwan -- Thanks to a recovering economy and a surge in demand for electronics products, export orders saw double digit growth in June, according to a report released by the Ministry of Economic Affairs (MOEA) yesterday.

Export orders totaled US$38.82 billion in June, representing a 10.06-percent growth rate compared with the same month last year, and constituted the fifth consecutive month of growth.

Except for precision instruments, exports of all major product categories grew in June.

Orders for information and communication technology (ICT) products, which make up about a quarter and the largest portion of Taiwan's exports, grew 8.8 percent in June. An improved economy as well as higher demand for personal computers and notebooks contributed to the growth, the MOEA said.

Orders for electronics products, which constitute another quarter of Taiwan's exports, saw a staggering 17-percent growth. Growing demand for handheld devices, especially lower priced models with better functionality, contributed to more orders for semiconductors, integrated chips, and DRAM related products, the MOEA said. Exports in the sector grew 12.2 percent in the first half of 2014.

Orders for precision instruments declined 5.8 percent, the 14 consecutive month of decline. More intense competition internationally and falling orders for display panels were the main cause. The sector's orders dropped 8.3 percent in the first half of 2014.

However, the extent of decline has been narrowing, according to the MOEA report. Demand for TVs and smartphone display panels picked up in June, said MOEA Statistics Department Director Lin Lee-jen (林麗貞).

 As the global economy improved, and with a relatively low base period last year, orders for base metal products, plastic products, chemical products and machinery grew 8.8 percent, 5.5 percent, 16.4 percent and 15.2 percent, respectively.

Demand for Electronics Products in Major Markets

Taiwan's exports to all major markets grew in June, with double-digit growth present in three markets — China, Europe and the ASEAN-6 nations.

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