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Financial News: Taiwan Export Orders Rebound 1.9%

Taiwan Export Orders Rebound 1.9%

02/27/2024 - 03:36:00 (RTTNews)

(RTTNews) - Taiwan's export orders increased unexpectedly in January after falling sharply in the previous month, according to data released by the Ministry of Economic Affairs on Tuesday.

Export orders rose 1.9 percent year-over-year in January, reversing a 16.0 percent plunge in December, which was the fastest fall in five months.

Meanwhile, orders were expected to decrease by 3.6 percent.

Orders for basic metals and related articles alone grew the most by 26.2 percent, followed by plastic, rubber, and related products, which rose by 25.5 percent.

Foreign orders for electronic products surged 16.0 percent, while those for information and communications products declined sharply by 19.3 percent.

On a monthly basis, export orders recovered strongly by a seasonally adjusted 10.5 percent in January versus a 13.5 percent fall a month ago.

In New Taiwan dollar terms, export orders increased 4.5 percent annually and by 10.3 percent monthly in January.

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