Financial News: Taiwan Export Orders Rise 3.1%, Less Than Expected

Taiwan Export Orders Rise 3.1%, Less Than Expected

07/22/2024 - 04:35:00 (RTTNews)

(RTTNews) - Taiwan's export orders increased for the fourth straight month in June, albeit at a slower-than-expected pace, according to data released by the Ministry of Economic Affairs on Monday.

Export orders climbed 3.1 percent year-over-year in June, slower than the 7.0 percent surge in May. Meanwhile, economists had expected the growth to accelerate to 12.5 percent. Further, this was the weakest increase in three months.

Orders for mineral products grew the most by 10.2 percent, followed by orders for chemicals, which grew by 9.5 percent. Meanwhile, foreign orders for textile products fell by 6.8 percent.

On a monthly basis, export orders decreased sharply by 6.8 percent in June.

In New Taiwan dollar terms, export orders rose 8.6 percent annually, while they slid by 6.6 percent monthly in June.

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