Taiwan’s export orders recovered slightly in July, ending five successive monthly declines on improving demand from major markets including the United States and China, the government said Tuesday.
Export orders — orders filed to manufacturers one or two months ahead — are a key measure for the island’s export-reliant economy.
The July figure was $36.11 billion, up 0.5 per cent year-on-year and up 2.9 per cent from the previous month, the economics ministry said.
Orders from the Association of Southeast Asian Nations (ASEAN) economies rose 3.7 per cent year-on-year, while those from the United States and China were also up 2.8 per cent and 2.0 per cent, respectively, from a year ago.
Orders for the island’s signature electronics items added 2.8 per cent from last month or 0.3 per cent from a year ago, as demand picked up in China and the United States for semiconductor and other chips.
Orders for chemical and telecom products also increased 8.3 per cent and 2.7 per cent year-on-year, respectively, the ministry said.
Taiwan’s economy grew 1.32 per cent in 2012, its slowest pace in three years, and has shown signs of weakness in recent months due to slowing demand from its key markets.
The government last week revised its expectations for 2013 full year economic growth downwards to 2.31 per cent, citing a weaker global economic outlook and slowing exports and consumer spending in the second half.
Source : Channel News Asia | August 20, 2013