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Taiwan export orders grow for 12th straight month (update)

2017/08/21 23:02:45

CNA file photo

Taipei, Aug. 21 (CNA) Taiwan reported on Monday that the export orders Taiwanese companies received in July grew year-on-year for the 12th consecutive month largely because of solid demand for electronics gadgets.

According to the Ministry of Economic Affairs (MOEA), Taiwan's export orders rose 10.5 percent in July from a year earlier to US$38.72 billion as the global economic recovery remained on track.

In Taiwan dollar terms, Taiwan's export orders were only up 4.7 percent from a year earlier, because the local currency was up 5.55 percent against the U.S. dollar year-on-year in July, the MOEA said.

Lin Li-chen (林麗貞), director of the MOEA's Department of Statistics, said all major manufacturing sectors in Taiwan posted year-on-year growth in July, and the information/communications, base metal, optoelectronics and machinery sectors saw double-digit growth.

Companies in the information/communication sector received US$10.89 billion in orders in July, up 13.9 percent from a year earlier due to increasing demand for notebook computers, tablet computers, servers and Internet communications devices.

Orders given to the local electronics component sector rose 4.2 percent from a year earlier to US$9.74 billion, with contract chip makers, memory chip providers and other semiconductor firms enjoying particularly strong demand, the data showed.

Optical electronics firms received US$2.26 billion in export orders in July, up 22.7 percent from a year earlier on the back of rising TV panel prices and increasing demand for smartphone displays.

Base metal firms also received US$2.26 billion in export orders in July, up 12.8 percent from a year earlier largely on the back of a recovery in steel prices, while export orders in machinery grew 12.5 percent to US$1.85 billion on increasing demand for automation.

Export orders in the rubber/plastics and chemical sector totaled US$1.84 billion and US$1.74 billion, respectively, in July, up 9.5 percent and 9.6 percent from a year earlier on the back of rising product prices caused by strong demand, the MOEA said.

The MOEA said export orders from China/Hong Kong and Europe to Taiwan grew at a double-digit pace in July.

According to the MOEA, export orders placed by China/Hong Kong totaled US$9.73 billion in July, up 10.7 percent from a year earlier as Chinese buyers showed strong interest in Taiwan's optoelectronics, electronics components and rubber and plastics products.

Taiwanese companies received US$7.25 billion in export orders from Europe, up 23.2 percent from a year earlier, and US$10.83 billion in export orders from the United States, up 7.7 percent year-on-year.

Orders from the members of the Association of Southeast Asian Nations (ASEAN), meanwhile, totaled US$4.15 billion in July, down 2.6 percent year-on-year, the MOEA said.

In the first seven months of this year, Taiwan's export orders totaled US$262.35 billion, up 11.1 percent from a year earlier.

On a month-on-month basis, July export orders were down US$1.63 billion, or 4 percent, from June, but Lin said the monthly slowdown could be reversed in August and momentum will accelerate in September as international electronics brands launch new products.

Lin said export orders for August could range between US$39.5 billion and US$40.5 billion, up 2-4.6 percent from July, and up 4.1-6.8 percent from a year earlier.

(By Liao Yu-yang and Frances Huang)