Taiwan expected to set new record for export orders in 2018

Taipei, Export orders received by Taiwan-based companies rose nearly 7 percent in the first seven months of the year and are on pace to set a new record for all of 2018, the Ministry of Economic Affairs (MOEA) said Monday.

Export orders rose 6.8 percent year-on-year in the January-July period to US$280.24 billion, and the MOEA expected demand for electronic devices and information and communications products to peak in the second half to push export orders to above US$500 billion.

The all-time high to date was the US$492.81 billion in export orders received in 2017, eclipsing the previous record of US$472.81 billion set in 2014, according to the MOEA.

Lin Li-chen (???), director of the ministry's Department of Statistics, said export order growth momentum should continue in the second half of the year as the global electronics sector enters its annual peak season.

Lin did not expect the ongoing trade friction between the United States and China to have too much of an effect on orders during the period.

In July alone, orders received by Taiwanese exporters rose 8 percent from a year earlier to US$41.8 billion, following a 0.1 percent year-on-year fall in June to US$40.31 billion, MOEA figures showed.

The July growth was mainly due to increasing demand for the country's electronics and information and communication products, Lin said.

Source: Focus Taiwan News Channel