Financial News: Taiwan Export Orders Fall 4.6%, Less Than Forecast

Taiwan Export Orders Fall 4.6%, Less Than Forecast

11/20/2023 - 04:17:00 (RTTNews)

(RTTNews) - Taiwan's export orders continued to decline in October, though at a slower-than-expected rate, according to data released by the Ministry of Economic Affairs on Monday.

Export orders dropped 4.6 percent year-over-year in October, much slower than the 15.6 percent slump in September. The expected drop was 4.93 percent.

Orders for transport equipment fell the most, by 31.1 percent, followed by textile products with a 16.4 percent slump. Similarly, foreign orders for machines dropped, notably by 12.8 percent.

On a monthly basis, export orders increased by a seasonally adjusted 2.9 percent in October.

In New Taiwan dollar terms, export orders decreased by 3.6 percent yearly, while they rose 3.7 percent monthly in October.

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