Export orders last quarter expanded at a faster-than-expected 16.2 percent annually to US$173.13 billion, the best first-quarter performance ever, aided by improving key component supplies and robust demand for chips used in 5G devices, servers and emerging technologies, the Ministry of Economic Affairs said yesterday.
The figure beat the ministry’s estimate of US$168.9 billion to US$170.4 billion, indicating milder seasonal weakness.
Demand for information and communications technology (ICT) and electronics products were much higher than its expectations, and only a fraction of local manufacturers felt the pinch of China’s stringent “zero COVID-19” policy, the ministry said.
Photo: CNA
That was evident in continued growth in export orders from China, including Hong Kong, which rose 11.4 percent annually to US$43.76 billion, the ministry said.
However, the situation remains dynamic as China imposes lockdowns in more cities and the pace of work resumption at factories remains uneven, it said.
It expects export orders to slide 9.1 to 11.5 percent on a monthly basis to between US$55.5 billion and US$57 billion this month.
That would represent an annual growth rate of 1 to 3.8 percent, the ministry added.
“We are conservative about export orders estimates, due to rising uncertainty. As China is tightening COVID-19-related controls, we are closely monitoring whether April will be a turning point,” Department of Statistics Director Huang Yu-ling (黃于玲) said by telephone yesterday. “Besides, the supply chain bottleneck remains an issue.”
Another unfavorable factor is the Russia-Ukraine war, which has driven commodity prices higher and stoked fears of inflation worldwide, Huang said.
That could result in a global economic slowdown and subsequently depresses demand for goods made by Taiwanese manufacturers, she said.
During the first three months of this year, orders for electronics products — primarily semiconductors — surged 25 percent annually to US$57.77 billion, making the segment the biggest contributor to export orders, ministry data showed.
ICT products came next, with orders swelling 17.9 percent to US$47.76 billion, attributable to an improvement in key component shortages in the laptop and mobile phone sectors.
Orders for optoelectronics products fell 2.4 percent to US$6.97 billion, the only segment that suffered declines, due to falling prices of TV panel displays.
Orders for basic metals, mainly steel, jumped 19.5 percent to US$9.45 billion, thanks to an upward spiral in steel prices driven by commodity price hikes worldwide, the ministry said.
Orders for machine tools advanced 3.8 percent to US$6.7 billion as robust demand for semiconductors offset weakness in demand from China amid a weakening economy.
Orders for plastic products rose 2.7 percent to US$7.4 billion, while those for petrochemical products surged 21.2 percent to US$6.69 billion, buoyed by increases in global crude oil prices.
European Central Bank (ECB) President Christine Lagarde is expected to step down from her role before her eight-year term ends in October next year, the Financial Times reported. Lagarde wants to leave before the French presidential election in April next year, which would allow French President Emmanuel Macron and German Chancellor Friedrich Merz to find her replacement together, the report said, citing an unidentified person familiar with her thoughts on the matter. It is not clear yet when she might exit, the report said. “President Lagarde is totally focused on her mission and has not taken any decision regarding the end of
French President Emmanuel Macron told a global artificial intelligence (AI) summit in India yesterday he was determined to ensure safe oversight of the fast-evolving technology. The EU has led the way for global regulation with its Artificial Intelligence Act, which was adopted in 2024 and is coming into force in phases. “We are determined to continue to shape the rules of the game... with our allies such as India,” Macron said in New Delhi. “Europe is not blindly focused on regulation — Europe is a space for innovation and investment, but it is a safe space.” The AI Impact Summit is the fourth
CONFUSION: Taiwan, Japan and other big exporters are cautiously monitoring the situation, while analysts said more Trump responses ate likely after his loss in court US trading partners in Asia started weighing fresh uncertainties yesterday after President Donald Trump vowed to impose a new tariff on imports, hours after the Supreme Court struck down many of the sweeping levies he used to launch a global trade war. The court’s ruling invalidated a number of tariffs that the Trump administration had imposed on Asian export powerhouses from China and South Korea to Japan and Taiwan, the world’s largest chip maker and a key player in tech supply chains. Within hours, Trump said he would impose a new 10 percent duty on US imports from all countries starting on
STRATEGIC ALLIANCE: The initiative is aimed at protecting semiconductor supply chain resilience to reduce dependence on China-dominated manufacturing hubs India yesterday joined a US-led initiative to strengthen technology cooperation among strategic allies in a move that underscores the nations’ warming ties after a brief strain over New Delhi’s unabated purchase of discounted Russian oil. The decision aligns India closely with Washington’s efforts to build secure supply chains for semiconductors, advanced manufacturing and critical technologies at a time when geopolitical competition with China is intensifying. It also signals a reset in relations following friction over energy trade and tariffs. Nations that have joined the Pax Silica framework include Japan, South Korea, the UK and Israel. “Pax Silica will be a group of nations
RSS