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Financial News: Taiwan Export Orders Rise 7.0%, More Than Forecast

Taiwan Export Orders Rise 7.0%, More Than Forecast

06/20/2024 - 04:40:00 (RTTNews)

(RTTNews) - Taiwan's export orders increased for the third straight month in May and at a faster-than-expected pace, largely on the back of strong demand for chemicals, information, and communication products, according to data released by the Ministry of Economic Affairs on Thursday.

Export orders grew 7.0 percent year-over-year in May, though slower than the 10.8 percent surge in April. Nonetheless, that was above the expected growth of 6.0 percent.

Orders for chemicals grew the most by 17.1 percent, followed by orders for information and communication products, which grew by 11.4 percent. Meanwhile, foreign orders for transport equipment fell by 12.3 percent.

On a monthly basis, export orders increased by 3.8 percent in May.

In New Taiwan dollar terms, export orders grew 12.6 percent annually and by 3.7 percent monthly in May.

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