Taiwan’s export orders up 9.7 percent in February

2021/03/11

Taiwan’s export orders increased 9.7 percent year on year to US$27.79 billion in February, according to the Ministry of Finance March 9.
 
The MOF attributed the growth to high demand for chips, display panels and information and communications technology products, as well as the rising number of outbound raw materials shipments.
 
According to statistics revealed by the MOF, optical instruments exports soared 23.8 percent; plastic and rubber products, 18.8 percent; machinery, 16.2 percent; electronics, 14.4 percent and ICT products, 7.5 percent.
 
Demand for Taiwan’s other export items dipped, however, as economies around the world struggle to reopen, with orders for textile products and petrochemicals declining 6.4 and 44.4 percent during the period, respectively.
 
China and Hong Kong were Taiwan’s top source of orders, up 14.8 percent to US$1.45 billion, followed by the U.S., up 14.8 percent to US$3.91 billion; Europe, up 8.1 percent to US$2.38 billion; and Association of Southeast Asian Nations member states, up 4.2 percent to US$4.72 billion.
 
Despite the positive figures, the ministry sounded a word of caution given uncertainties in the global economy caused by further trade friction between China and the U.S. alongside the ongoing pandemic. The impact of these factors on Taiwan remains to be seen, it added.


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