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Christmas, weak NT give boost to electronics exports

Export orders rose more than expected last month, surging to a record as sales of consumer electronics picked up ahead of Christmas and currency weakness made local goods more affordable for overseas buyers.

Orders, indicative of actual shipments in one to three months, jumped 21.96 percent from a year earlier to US$23.78 billion after climbing 22.7 percent in August, the Ministry of Economic Affairs said in a statement yesterday.

"The electronics industry is doing pretty well, with sales of products such as digital cameras and display panels rising" before the Christmas shopping season, said Vickie Hsieh, a President Securities Corp (統一證券) economist in Taipei.

Export orders will probably maintain growth of about 20 percent in coming months, she said.

Rising overseas sales of AU Optronics Corp (友達光電) liquid-crystal displays and Taiwan Semiconductor Manufacturing Co (台積電) chips are helping to create jobs and spur expansion.

The jobless rate fell to a four-year low of 4 percent last month and economic growth is expected to accelerate to 4.6 percent this quarter, from 3 percent in the second quarter, according to the Directorate-General of of Budget, Accounting and Statistics.

Exports of electronic goods, including chips, rose 24.73 percent to US$5.52 billion last month after climbing 26 percent in August, the ministry statement showed.

Orders for information technology and communications equipment increased 27.76 percent to US$4.88 billion.

The New Taiwan dollar has fallen 6 percent against the greenback so far this year, helping manufacturers compete. South Korea saw its currency slip a more modest 2.1 percent during the same period.

"Orders grew on strong demand for chips and consumer electronics products such as MP3 players and multimedia products," the ministry said. "We are also seeing sustainable demand from China and Japan."

Orders from Hong Kong and Japan both surged 34 percent last month, while US orders rose 13.82 percent.
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