Taiwan's export orders up slightly in May
Taipei, June 20 (CNA) Taiwan's export orders rose slightly from a year earlier in May as solid demand for tech devices offset the impact on the old economy sector from the COVID-19 coronavirus, the Ministry of Economic Affairs (MOEA) said Saturday.
Data compiled by the MOEA showed that export orders received by Taiwanese exporters totaled US$38.89 billion, up 0.4 percent from a year earlier, marking the third consecutive month of a year-on-year increase.
In the first five months of this year, however, Taiwan's export orders fell 1.5 percent from a year earlier to US$181.66 billion.
In May, the MOEA said, local electronic component makers benefited from strong demand for emerging applications such as 5G communication and high performance computing devices, which drove up orders enjoyed by semiconductor suppliers and server, printed circuit board and passive component exporters.
As a result, export orders in electronics components for May rose 13.4 percent from a year earlier to US$11.27 billion, the MOEA said.
The MOEA said information communication device suppliers received US$13.02 billion in export orders in May, up 22.2 percent from a year earlier, as COVID-19 boosted shipments of products such as notebook computers and tablet computers in the wake of growing online learning and remote work.
Bucking the upturn, plastics and rubber makers in Taiwan saw their export orders falling 21.9 percent from a year earlier to US$1.50 billion in May as massive lockdowns forced by COVID-19 in many countries cut demand, while a plunge in international crude oil prices sent product prices lower and export orders placed to chemical firms here also dropped 29.1 percent to US$1.20 billion due to the pandemic.
Meanwhile, export orders placed to the base metal and machinery sectors fell 26.3 percent and 16.5 percent, respectively, from a year earlier to US$US$1.65 billion and US$1.51 billion in May, the MOEA said.
Huang Yu-ling (黃于玲), director of the MOEA's Department of Statistics, told reporters that Taiwan is expected to score another year-on-year increase in export orders in June, with value estimated at US$38.5 billion-US$40 billion, up 3.9 percent. Solid demand for tech devices is expected to continue and a move by many countries to reopen their economies is expected to boost shipments.
In the second quarter, export orders are expected to range between US$115.9 billion and US$117.4 billion, up 0.9-2.2 percent from the first quarter, to stop a six-quarter falling streak, Huang said.
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