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Taipei, Aug. 20 (CNA) Taiwan's export orders rose almost 5 percent from a year earlier in July on the back of solid demand for emerging technologies, such as artificial intelligence applications and high performance computing (HPC) devices, the Ministry of Economic Affairs (MOEA) said Tuesday.
With the country's consumer electronic suppliers also receiving a boost from international clients' moves to build up inventories ahead of the debut of new products, data compiled by the MOEA showed Taiwan's export orders rose 4.8 percent from a year earlier to US$50.03 billion after a 3.1 percent year-on-year increase in June.
In the first seven months of this year, export orders totaled US$324.89 billion, up 2.7 percent from a year earlier, the data indicated.
Speaking with reporters, MOEA Department of Statistics Director Huang Yu-ling (黃于玲) said export orders in July beat the previous estimate due to strong demand for HPC and AI gadgets.
The MOEA had previously estimated that July export orders would range from US$46.5 billion to US$48.5 billion.
In July, the information and communication industry generated US$14.13 billion in export orders, up 11.0 percent from a year earlier as the rising popularity of AI and cloud applications pushed up demand for servers, while higher demand for notebook computers and graphics cards boosted export orders further, the MOEA said.
The MOEA said the electronic components industry posted US$18.10 billion in export orders in July, a new high for the month and up 2.2 percent from a year earlier, with an increase in the production of AI and HPC devices as well as new smartphones leading to an increase in orders in pure play wafer foundry services.
In the optical equipment industry, export orders rose 7.8 percent from a year earlier to US$1.78 billion in the wake of an increase in demand for smartphone camera lenses and optical testing and measuring equipment, the MOEA said.
Old economy industries largely saw an increase in export orders in July, according to the ministry.
The metal industry saw export orders rise 4.8 percent from a year earlier to US$2.17 billion in July on a rebound in demand, while the machinery industry enjoyed a 13.4 percent year-on-year increase in export orders valued at US$1.67 billion with manufacturers, in particular in the global semiconductor industry, keen to expand production by installing new equipment, the MOEA said.
In the plastics and rubber industry, export orders rose 4.1 percent from a year earlier to US$1.65 billion in July on a rebound in orders from downstream plastic glove clients after inventory adjustments, the MOEA added.
Bucking the upturn, the chemical industry reported NT$1.47 billion in export orders, down 0.6 percent from a year earlier, as foreign suppliers continued to expand production, affecting orders received by Taiwanese firms, the MOEA said.
The United States placed US$16.34 billion worth of orders with Taiwanese exporters in July, up 14.3 percent from a year earlier, boosted by solid demand for electronic products.
Orders from clients in China and Hong Kong totaled US$10.66 billion in July, down 0.1 percent from a year earlier due to a fall in demand for chemical items, while orders placed by ASEAN bloc countries also dropped 6.2 percent from a year earlier to US$8.25 billion, with orders for electronic products on the decline.
On the back of strong demand for information and communications devices, the MOEA said, orders from Europe rose 6 .1 percent from a year earlier to US$6.97 billion in July, and orders from Japan grew 2.4 percent from a year earlier to US$2.92 billion.
Looking ahead, global demand for AI and HPC devices is expected to raise orders placed for Taiwan-made semiconductors and servers in the second half of this year, Huang said, adding peak effects in the consumer electronics industry are likely to further push up export orders.
It is possible export orders received by Taiwan will grow quarter by quarter in the second half of the year, she added.
According to Huang, Taiwan's export orders are forecast to range from US$49.1 billion to US$51.1 billion in August, up 6.7-11 percent from a year earlier.
However, the MOEA said it remains cautious about lingering uncertainties, such as changes in the major central banks' monetary policies, geopolitical unease and trade tensions between the U.S. and China, which could slow down the global economic recovery.
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