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Financial News: Taiwan Export Orders Continue To Fall

Taiwan Export Orders Continue To Fall

08/20/2019 - 05:03:00 (RTTNews)

(RTTNews) - Taiwan's export orders decreased further in July, but at a slower-than-expected pace, as the foreign demand for machinery and basic metals plummeted, figures from the Ministry of Economic Affairs showed on Tuesday.

Export orders fell 3 percent year-on-year in US dollar terms in July, which was much slower than the 5.9 percent decline economists had predicted.

In June, orders had fallen 4.5 percent.

Orders for machinery tumbled 19.7 percent and those for basic metals and products fell 16.1 percent. Bookings for optical, photographic, cinematographic equipment, information and communication products, electronics, textiles, plastics, rubber and chemicals also declined.

On the other hand, orders for electrical machinery products, transport equipment and mineral products increased.

Month-on-month, export orders grew 5.3 percent in July.

In the January to July period, export orders decreased 6 percent from the same period last year.

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