Mon, Oct 19, 2015 - Page 13 News List

Exports to drop for sixth month

Staff writer, with CNA

Taiwan’s export orders for last month are expected to show a year-on-year decline, dropping for the sixth consecutive month, amid weak global demand and signs of a slowdown of the world’s economy, the Ministry of Economic Affairs said on Saturday.

The expected decline is likely to reflect a high comparison base in the same month of last year, when export orders rose 12.7 percent year-on-year to US$43.3 billion, the ministry said.

The ministry is scheduled to release last month’s export data tomorrow.

In August, export orders fell 8.3 percent from a year earlier to US$35.03 billion as global demand showed signs of slowing.

Only suppliers of information and communications devices recorded a year-on-year increase in export orders in August, while exporters of precision equipment, base metal, machinery, rubber and chemical products saw a drop.

The ministry said the weak performance extended into last month amid a slowing global economy, despite the launch of Apple Inc’s latest iPhones last month.

Many Taiwanese manufacturers in the Apple supply chain, such as Hon Hai Precision Industry Co (鴻海精密), which assembles iPhones and iPads, and smartphone camera lens maker Largan Precision Co (大立光), got a boost from the US firm in terms of shipments, but it was not enough to prevent a slump in the export orders last month, according to the ministry.

In the manufacturing sector, 19.3 percent of companies saw a monthly increase in export orders last month, while 25.5 percent saw a drop, the ministry said, citing a survey.

In the months ahead, exports orders are likely to increase as the year-end shopping season in the US and European markets approaches and international brands launch new devices, the ministry said.

However, the gains from the seasonal demand might be compromised by the continued low prices of international oil and steel and escalating competition in the world market, the ministry said.

This story has been viewed 1413 times.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top