Taiwan’s September export orders hit record US$43.32 billion, led by US demand

TAIPEI - Taiwan’s export orders increased 12.7% on-year in September to a record US$43.31 billion, bolstered by robust global demand for handheld devices, according to the Ministry of Economic Affairs. It was the eighth consecutive month of growth and the best in three-and-a-half years.

Lin Lee-jen, Director-General of the Ministry’s Department of Statistics, said the result can also be attributed to increasing equipment investment worldwide on the back of an improving global business climate.
Orders for four of Taiwan’s seven major export sectors registered double-digit growth, with machinery leading the way at 21.4%. Electronics and information communications technology products surged by 19.4% and 16.3% respectively, to their highest on record.
But orders for precision instruments—including display panels—declined for the 17th month, dropping 2.1% as competition from Mainland China continued to stiffen. Orders for chemicals, rubbers and plastics remained unchanged.
The US took over as Taiwan’s top source of orders, up 15.5% to a best-ever US$11.37 billion. Mainland China, including Hong Kong, was second with an increase of 8.6% to US$10.4 billion, also a record high. Europe came in third at US$9.12 billion, up 22.6%, growing for 14 months in a row.
For the first three quarters of the year, export orders gained 6.3% to US$340.16 billion. Lin, who is upbeat on the outlook for the next few months, expects orders to top US$44 billion in October. www.taiwantoday.tw (ATI).