March export orders up 4.3 percent YOY in Taiwan

2020/04/22

Taiwan’s export orders grew 4.3 percent year on year to US$40.26 billion in March, the highest increase since October 2018, according to the Ministry of Economic Affairs April 20.
 
 Among the country’s main export sectors, orders for electronics surged 23.8 percent to US$12.45 billion thanks to robust demand for semiconductor manufacturing and testing services.
 
 Orders for information and communication technology products also fared well, up 6.9 percent to US$11.54 billion. The MOEA attributed the strong showing to the effect of Chinese manufacturing firms resuming production and a boom in telecommuting during the COVID-19 pandemic.
 
 Demand for Taiwan’s other major export items dipped, however, as economies around the world struggle to reopen, with orders for basic metals, machinery, optoelectronic products and petrochemicals as well as plastic and rubber products declining between 1.1 and 19.8 percent during the period.
 
 Taiwan’s top source of orders remained the U.S. at US$11.75 billion, up 9.1 percent year on year. This was followed by China and Hong Kong, up 7.5 percent to US$10.64 billion; Europe, up 5.1 percent to US$7.68 billion; and Association of Southeast Asian Nations member states, down 0.6 percent to US$3.71 billion.

 The MOEA said it remains cautiously optimistic about the export outlook for electronics and ICT products given continuing global demand for high-performance computing and smart devices.

Source: Taiwan Today (https://taiwantoday.tw/index.php)