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Financial News: Taiwan Export Orders Surge 10.8%, More Than Forecast

Taiwan Export Orders Surge 10.8%, More Than Forecast

05/20/2024 - 04:21:00 (RTTNews)

(RTTNews) - Taiwan's export orders increased for the second straight month in April and at a faster-than-expected pace on the back of strong demand for electronic products, according to data released by the Ministry of Economic Affairs on Monday.

Export orders logged double-digit annual growth of 10.8 percent in April versus a 1.2 percent rise in March. That was also well above the expected growth of 4.5 percent.

Orders for electronic products grew the most by 22.7 percent, followed by orders for information and communication products, which grew by 8.4 percent. Foreign-order chemical products advanced by 8.0 percent.

On the other hand, orders for machines were 3.4 percent lower compared to last year.

On a monthly basis, export orders dropped 0.1 percent in April.

In New Taiwan dollar terms, export orders grew 17.3 percent annually and by 1.9 percent monthly in April.

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