June export orders up 6.5 percent year on year in Taiwan

2020/07/22

Taiwan’s export orders increased 6.5 percent year on year to US$41 billion in June, according to the Ministry of Economic Affairs July 20.
 
 Orders for the main exports sectors of electronics, information and communication technology, and optoelectronic products rose 23.9 percent to US$12.3 billion, 17.1 percent to US$12.99 billion and 3.8 percent to US$1.92 billion, respectively.
 
 The MOEA attributed the strong electronics numbers to the accelerating development of technologies such as 5G telecommunications and high-performance computing, as well as rising demand for chips, integrated circuit design, dynamic random access memory and printed circuit boards.
 
 A similarly impressive result for ICT products was credited by the MOEA to a boom in telecommuting stemming from the COVID-19 pandemic. This trend carried over to ICT on the back of increasing orders for notebooks, tablets, graphics cards, internet servers and network communication devices, as well as heightened production of mobile phones.
 
 Equally noteworthy were orders for optoelectronic products, which saw a rise due to increasing demand for liquid crystal display panels and optical lenses, the MOEA said.
 
 Taiwan’s top source of orders was the U.S., up 13.6 percent to US$13.3 billion, followed by China and Hong Kong, up 13 percent to US$10.56 billion; Europe, up 10.8 percent to US$7.47 billion; and Association of Southeast Asian Nations, up 1.8 percent to US$3.77 billion.
 
 The MOEA said it remains optimistic about the outlook for electronics and ICT products given strong global demand for advanced technologies. But it cautioned that further trade friction between China and the U.S., as well as the ongoing COVID-19 pandemic, 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)