Financial News: Taiwan Export Orders Fall 19.3%

Taiwan Export Orders Fall 19.3%

02/20/2023 - 06:14:00 (RTTNews)

(RTTNews) - Taiwan's export orders declined at a slower-than-expected rate in January, data from the Ministry of Economic Affairs showed on Monday.

Export orders fell 19.3 percent year-on-year in January. Economists had expected a decline of 25.2 percent.

Bookings for plastics and related articles, rubber and related articles declined the most by 49.4 percent annually in January, closely followed by a 48.0 percent plunge in orders for optical, photographic, cinematographic apparatus.

Orders for basic metals and articles thereof chemicals slumped 45.4 percent and those for chemicals fell 38.4 percent.

Foreign demand for transport equipment was 30.4 percent lower and orders for textile products declined 19.1 percent.

On a month-on-month basis, export orders decreased 8.9 percent at the start of the year.

Separate official data revealed that inward investment, or foreign direct investment, into the Taiwanese economy declined sharply by 80.23 percent in January compared to last year.

Inward investment from Mainland China indicated a fall of 80.67 percent on year.

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