Export orders up for 4th consecutive month in November (update)

Taiwan reported a year-on-year increase in export orders for a fourth consecutive month in November, amid rising global demand before the year-end holiday buying spree, the Ministry of Economic Affairs (MOEA) said Tuesday.

Orders received from abroad by companies in Taiwan totaled US$43.62 billion in November, up 7 percent from a year earlier, after a 0.3 percent year-on-year increase in October, according to MOEA statistics.

The figure also represented a 2.2 percent increase from October.

A gradual recovery of the global economy and the approach of the year-end holiday shopping season have boosted demand for electronic products and information and communication products, said Lin Li-chen (林麗貞), director of the ministry’s Department of Statistics.

The ministry said orders for information and communication equipment such as handheld devices and notebook computers rose 6.9 percent from a year earlier to US$14.58 billion in November.

Orders for electronic components such as semiconductors rose 10.1 percent from a year earlier to US$11.75 billion, achieving their highest-ever monthly total, the MOEA said.

Meanwhile, orders for precision devices, including flat panels, gained 1.8 percent from a year earlier to US$2.19 billion, ending 24 consecutive months of negative growth, MOEA statistics show.

Orders have increased from most major export markets, including the United States, China and Hong Kong, Europe and the Association of Southeast Asian Nations, with orders from the U.S. increasing by as much as 10.1 percent from the same month of last year.

However, orders from Japan fell by 0.4 percent from a year earlier, led by a decline in orders for notebook computers, the MOEA said.

In the traditional manufacturing sector, export orders for base metals, plastics/rubber and machinery saw growth of 15.2 percent, 16.7 percent and 12.3 percent, respectively, from a year earlier, while orders for chemicals rose by 4 percent.

The ministry forecast that export orders for the semiconductor industry will remain stable in the near future, as companies build up their inventories to meet demand over the Chinese New Year period, and as Internet of Things technology and automotive electronics continue to proliferate.

However, orders for information and communication products could see a decline from November, as the holiday shopping season comes to an end, the MOEA said.

Source: Focus Taiwan News Channel

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