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Financial News: Taiwan Export Orders Increase More Than Expected

Taiwan Export Orders Increase More Than Expected

02/24/2021 - 04:11:00 (RTTNews)

(RTTNews) - Taiwan's export orders rose more than expected in January, data from the Ministry of Economic Affairs showed on Wednesday.

Export orders grew 49.3 percent year-on-year in January. Economists had forecast a growth of 44.5 percent.

Orders for electronic products accelerated 64.3 percent yearly in January. Demand for optical, photographic, cinematographic apparatus grew 58.1 percent and those for machineries increase 42.9 percent.

Bookings for information and communication products, and transport equipment gained by 55.6 percent and 55.1 percent, respectively.

Demand for electrical machinery products and others rose by 52.5 percent and 71.5 percent, respectively. Booking for plastics and articles thereof rose 43.3 percent and those of basic metals and articles thereof gained 21.5 percent.

Orders for chemicals and textile products increased by 13.4 percent and 5.0 percent, respectively.

On a monthly basis, export orders declined 12.9 percent in January.

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