MOEA expects growth in exports

BETTER TIMES AHEAD?:The ministry says a four-month decline would likely end on rising demand for mobile devices and stabilizing sales of plastics and chemicals

Staff writer, with CNA

Mon, Jul 22, 2013 - Page 13

Taiwan is expected to report growth in export orders for last month from a year ago, snapping a four-month decline, the Ministry of Economic Affairs (MOEA) said yesterday.

The ministry is scheduled to release the data for last month’s export orders today.

The ministry said that because global demand for mobile devices remains on the rise and outbound sales in plastics and chemical products have showed signs of stabilizing, the orders received by exporters for last month was likely to rise.

In addition, there have been signs that a decline in orders placed to local base metal and machinery manufacturers has been eased to some extent, which also indicated export orders for last month improved, the ministry said.

In May, export orders totaled US$36.33 billion, down 0.4 percent from a year earlier, marking the fourth consecutive month for the country to post a year-on-year decline in export orders.

However, the May export order data was better than a previous market estimate of a 1.1 percent decline.

The information and communication technology, plastics, and chemical sectors saw growth in export orders in May from a year earlier, while other sectors such as electronics, precision instruments, basic metal and machinery experienced drops in orders.

Export orders placed by Europe and Japan in May fell 4.3 percent, and 5.7 percent, respectively, from a year earlier.

Orders from China including Hong Kong, the US, and six ASEAN nations — Thailand, Singapore, Philippines, Vietnam, Malaysia and Indonesia — rose 3.3 percent, 2.5 percent and 4.2 percent year-on-year.