Mon, May 19, 2014 - Page 13 News List

Growth in export orders expected

Staff writer, with CNA

The nation is expected to report a year-on-year increase in export orders for last month on the back of rising global demand for handheld devices, the Ministry of Economic Affairs said on Saturday.

Higher demand in China was part of the uptrend, the ministry said, noting that vendors there had boosted inventories in preparation for the holiday shopping on May 1, Labor Day.

The government is scheduled to release its data for last month’s export orders tomorrow and they are expected to show an increase from the year-earlier level, based on solid demand for electronic gadgets, the ministry said.

In March, export orders rose 5.9 percent year-on-year to US$37.94 billion, marking the second consecutive month of annual growth driven by higher exports of products, such as mobile devices and other electronics.

This trend is likely to be reflected in last month’s data, with handheld device shipments showing an increase, as international brands upgrade their products to spark consumer buying interest, the ministry said.

Last month’s exports were also boosted by higher demand for precision instruments in the lead up to China’s Labor Day holiday, the ministry said.

In the first three months of the year, export orders totaled US$104.76 billion, up 2.7 percent from the previous quarter and the highest first-quarter figure in recent years.

The electronics sector has been at the forefront of the nation’s thrust to penetrate the world market, with electronic and information-communications products accounting for almost 50 percent of total export orders in the first quarter and precision instruments making up more than 7 percent.

Sales in the traditional industries have also been picking up amid an economic recovery in the US and Europe, and the petrochemical/plastics sector, in particular, is expected to see an increase in orders in the coming months as the peak buying season approaches, the ministry said.

According to a survey by the ministry, 23.8 percent of local companies expect their export orders for last month to show monthly growth, while 17.4 percent are predicting a drop.

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