Strong demand for electronics products boosted the nation's export orders in 1999 to an all-time high of US$127.47 billion, up 7.26 percent from a year earlier, an official at the Ministry of Economic Affairs (
Chiang Yao-tsong (張耀宗), director general of the statistics department (統計處) at the ministry, said most export orders last year were for electronics products, information and telecommunications items and textile products.
Export orders refer to orders received rather than a shipment of goods and are considered a leading indicator of actual customs-cleared exports.
Orders for electronics products rose 19.11 percent last year to US$22.21 billion on the back of Taiwan makers' global logistics operations and strong demand for domestic wafer services, Chiang said.
Demand for information and communications products rose 9.3 percent to US$23.46 billion due to Y2K-related procurement and strong demand for notebook computers, he added.
Meanwhile, orders for textile products posted a 4.26 year-on-year increase, due to an increase in exports of quality products to the US and Europe and the larger export quota allowed to China and Europe.
The US remained the Taiwan's largest market last year, followed by Europe, Hong Kong, and Japan. Hong Kong is the main conduit of indirect trade between Taiwan and China.
"Taiwan's exports resumed their strong gains last year due to the sustained strong growth of the US economy, and export order increases from Hong Kong [including China] on the back of a steady Asian economic recovery," Chiang said.
"The increased demand for information, telecommunications, and electronics products from its European trade partners also boosted the gains," he added.
In December alone, export orders amounted to US$11.14 billion, up 11.47 percent year-on-year amid sustained global economic growth, strong growth in the Asian export markets and strong demand for information and electronics products.
The largest export orders increase in December was for electronics products. Orders increased 36.52 percent year-on-year. They were followed by textiles, plastics and rubber due to higher demand for these products in Asia.
The US, Europe, Hong Kong and Japan topped the sources of export orders in December.
According to the economics ministry, export orders this year are expected to grow 5 percent from a year earlier, Chiang said.
Meanwhile, the industrial output index in 1999 rose 7.5 percent, its highest annual growth since 1988. The 7.87 percent output increase of the manufacturing industry was its second highest since 1988, according to the economic ministry.
In the manufacturing industry, information and electronics-related products showed the largest output increase in December, due to stronger market demand and increased investments.
"The increase in industrial output in 2000 is expected to remain as strong as 1999, roughly at 7 percent to 8 percent. It will be boosted by exports and reconstruction spending after last September's quake," Chiang said. "Additionally, spending activity related to the upcoming presidential election and increasing domestic investment will also stimulate output," he said.
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