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Financial News: Taiwan Export Orders Fall More Than Expected

Taiwan Export Orders Fall More Than Expected

11/21/2022 - 04:15:00 (RTTNews)

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

Export orders fell 6.3 percent year-on-year in October. Economists had expected a decline of 1.0 percent.

Bookings for optical, photographic, cinematographic apparatus decreased 43.4 percent annually in October and those for plastics and related articles, rubber and related articles fell 38.3 percent.

Orders for chemicals slumped 31.0 percent and those for basic metals and articles thereof fell 35.6 percent.

Booking for machineries plunged 25.3 percent and orders for electrical machinery products declined 14.5 percent.

Orders for transport equipment fell 12.7 percent. Bookings for others, and information and communication products came down by 13.1 percent and 0.3 percent, respectively.

On a month-on-month basis, export orders decreased 9.1 percent in October.

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