Export orders rose 17.18 percent last month from a year earlier as demand from China offset weaker US sales, government statistics showed yesterday.
Export orders, indicative of shipments in one to three months, amounted to US$31.89 billion last month, up US$4.68 billion compared with November last year, Huang Ji-shih (黃吉實), director of the Ministry of Economic Affairs' statistics department, told a press briefing yesterday.
That was more than the 16.5 percent median estimate of 13 economists in a Bloomberg News survey. October's gain was 18 percent.
"Orders from Hong Kong and China, estimated at US$90 billion by year-end, exceeded orders from the US for the first time, which is expected to reach US$84 billion by year-end," Huang said.
Lucas Lee, an economist at Mega Securities Co (兆豐證券), also credited Chinese orders.
"Demand from the Greater China region is quite strong," he said.
China is forecasting an economic expansion of 11.5 percent this year, the fastest pace since 1994, as investment and exports surge. The US is in the grip of its worst housing recession in 16 years, cooling demand in Taiwan's second-biggest market after China and Hong Kong. For January through last month, orders rose 15.34 percent.
Last year, Taiwan's full-year orders from the US were US$79.33 billion, higher than the US$75.46 billion worth of orders from Hong Kong and China, Huang said.
Orders from Hong Kong and China surged US$1.42 billion, or 20.53 percent year-on-year, to US$8.32 billion last month. In comparison, orders from the US saw a smaller increase of 9.80 percent last month from a year earlier to US$7.57 billion, the report showed.
Orders on electronics, and information and communications technology products, which account for half of the nation's total orders, respectively saw an 18 and 11.03 percent year-on-year growth last month, Huang said.
Meanwhile, the nation's industrial production index grew 11.13 percent year-on-year last month, with the manufacturing industry snapping a 12.40 percent growth. The electricity, gas and water industry climbed 0.77 percent, while the construction industry decreased by 4.42 percent.
An Emirates flight from Dubai arrived at Taiwan Taoyuan International Airport yesterday afternoon, the first service of the airline since the US and Israel launched strikes against Iran on Saturday. Flight EK366 took off from the United Arab Emirates (UAE) at 3:51am yesterday and landed at 4:02pm before taxiing to the airport’s D6 gate at Terminal 2 at 4:08pm, data from the airport and FlightAware, a global flight tracking site, showed. Of the 501 passengers on the flight, 275 were Taiwanese, including 96 group tour travelers, the data showed. Tourism Administration Deputy Director-General Huang He-ting (黃荷婷) greeted Taiwanese passengers at the airport and
POSSIBILITIES EMERGE: With Taiwan’s victory and Japan’s narrow win over Australia, Taiwan now have a chance to advance if South Korea also beat the Aussies Taiwan has high hopes that the national baseball team would advance to the World Baseball Classic (WBC) quarter-finals after clinching a crucial 5-4 victory over South Korea in a nail-biting extra-inning game at the Tokyo Dome yesterday. Boosted by three home runs — two solo shots by Yu Chang (張育成) and Cheng Tsung-che (鄭宗哲) and a two-run homer by Stuart Fairchild — the triumph gave Taiwan a much-needed second victory in the five-team Pool C, where only the top two finishers would advance to the knockout stage in Miami, Florida. Entering extra innings with the game tied at four apiece, Taiwan scored
MISSION OF PEACE: The foreign minister urged Beijing to respect Taiwan’s existence as an independent nation, and work together to ensure peace and stability in the region Minister of Foreign Affairs Lin Chia-lung (林佳龍) yesterday rejected Chinese Minister of Foreign Affairs Wang Yi’s (王毅) comments about Taiwan, criticizing China as a “troublemaker” in the international community and a disruptor of cross-strait peace. Speaking at a news conference on the sidelines of the Chinese National People’s Congress, Wang said that Taiwan has always been a territory of China and that it would be impossible for it to become its own country. The “return” of Taiwan to China was the natural outcome of the Chinese people’s resistance against Japan in World War II, and that any pursuit of independence was “doomed
One person was killed and another seven injured today when a tourist shuttle bus plunged 30m to 40m down a ravine in Nantou County, the Tourism Administration said. The bus is suspected to have suddenly accelerated out of control near the flower center of the Sun-Link-Sea Forest Recreation Area, a popular attraction during cherry blossom season. Of the eight onboard, a 66-year-old man was killed, four were seriously injured and three sustained minor injuries, including the driver. The Nantou County Police Department said it received a report of the incident at 12:15pm and dispatched seven teams to assist. All surviving passengers have been transferred
RSS