Export orders hit all-time high for 2021 in Taiwan

2022/01/24

Taiwan’s export orders grew 26.3 percent year on year to an all-time high of US$674.13 billion for 2021, according to the Ministry of Economic Affairs Jan. 20.
 
Such growth is attributed to increasing global demand for products developed using cutting-edge information and communication technology like next-generation, or 5G, applications, the MOEA said.
 
The latest MOEA statistics reveal that base metal products rose 49.1 percent; plastic and rubber products, 42.2 percent; chemical products, 37.8 percent; optical instruments exports 29.4 percent; machinery, 28.7 percent; electronics, 28.5 percent and ICT products, 17.4 percent.
 
Taiwan’s export orders totaled US$67.9 billion last December, the MOEA said, reflecting an increase of 12.1 percent year on year and 22 consecutive months of growth.
 
The U.S. was Taiwan’s top source of orders, up 23.8 percent to US$200.14 billion, followed by China and Hong Kong, up 27.2 percent to US$175.05 billion; Europe, up 23.6 percent to US$134.63 billion; and Association of Southeast Asian Nations member states, up 37.5 percent to US$63.92 billion.
 
Going forward, the MOEA forecasts a more robust international economy due to more robust coronavirus response and stimulus measures, as well as heightened demand for emerging technology products.


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