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February export orders may post on-year growth: MOEA

TAIPEI--Taiwan's export orders for February are expected to post an increase from a year earlier, reversing a year-on-year decline seen in January, largely due to a low comparison base over the same period last year, the Ministry of Economic Affairs (MOEA) said Saturday.

The MOEA said the low comparison base resulted from the reduced number of working days in February last year, when the Lunar New Year holiday was celebrated from Feb. 9-17.

Citing a recent survey targeting local exporters, the ministry said export orders made in February could reach US$30 billion, compared with US$29.04 billion recorded a year earlier.

In January, Taiwan's export orders fell 2.8 percent year-on-year to US$36.11 billion, ending a six-month period of positive growth, with orders placed by China and Hong Kong down 3.9 percent and orders from the United States down 5.0 percent from a year earlier.

On a month-on-month basis, according to the survey, 19.1 percent of the respondents said their orders in February would rise from January, while 30.3 percent thought their orders would fall, and 50.6 percent said their orders would stay little changed from a month earlier.

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