Taiwan export orders grow 2.3 percent in April

2020/05/25

Export orders in Taiwan grew in April, up 2.3 percent year on year to US$38.53 billion, according to the Ministry of Economic Affairs May 20.
 
 Among the country’s main export sectors, orders for information and communication technology products posted the strongest growth, surging 18.6 percent to US$12.49 billion courtesy of robust demand for telecommunication items during the COVID-19 pandemic.
 
 Equally noteworthy were orders for electronics, up 16.2 percent to US$11.29 billion. The MOEA attributed this rise to high demand from ICT suppliers for memory modules and chipsets.
 
 Orders for optoelectronic products also fared well, growing 5.3 percent to US$1.85 billion. Demand for other export items was down, however, with orders for basic metals, machinery, petrochemicals, and plastic and rubber products dropping between 13.6 and 23.3 percent.
 
 Taiwan’s top source of orders remained the U.S., up 6.8 percent to US$10.95 billion. This was followed by China, up 9.2 percent to US$10.39 billion; Europe, up 7.6 percent to US$8.25 billion; and Association of Southeast Asian Nations member states, down 3.9 percent to US$3.32 billion.

 The MOEA said it remains optimistic about the outlook for electronics and ICT products given strong global demand for cloud servers, high-performance computing and 5G technology. But it cautioned further trade friction between China and the U.S., as well as low global oil prices, may cast uncertainties over the global economy going forward, with the impact on Taiwan remaining to be seen. 

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