June export orders hit record high for Taiwan

2022/07/26

Taiwan’s June export orders increased 9.5 percent year on year to US$58.83 billion, the highest on record for the month, according to the Ministry of Economic Affairs July 20.
 
Among the country’s main export sectors, information and communication technology product orders showed the highest growth, soaring 22 percent to US$16.94 billion. The MOEA attributed the strong showing to the improving global supply chain situation and robust demand for telecommunication items like mobile phones and notebook computers.
 
Similarly impressive were orders for electronics, up 11.7 percent to US$18.75 billion thanks to sustained high demand from global ICT suppliers for hard drives, as well as foundry and semiconductor packaging services.
 
The chemicals sector also reported a gain of 18.8 percent in orders, while demand for basic metals, machinery, optoelectronics, and plastic and rubber products were all down by between 8.3 and 28.4 percent.
 
Taiwan’s top source of orders remained the U.S., up 21.9 percent to US$18.67 billion. This was followed by China and Hong Kong, down 21 percent to US$12.33 billion; Europe, up 17.5 percent to US$11.03 billion; Association of Southeast Asian Nations member states, up 15.7 percent to US$7.02 billion; and Japan, up 1.7 percent to US$3.03 billion.
 
The MOEA said it remains optimistic about the outlook for semiconductors given the continuous launch of new applications in areas such as high-performance computing and the Internet of Things.
 
Despite the positive sentiment, the ministry also voiced its concerns over uncertainties in the global economy caused by the Russia-Ukraine war and escalating global inflation 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)