Growth in export orders returned to positive territory for the first time in seven quarters last quarter, thanks to rising demand for chips used in artificial intelligence (AI) applications and high-performance computing (HPC) applications, the Ministry of Economic Affairs said yesterday.
Export orders in the April-to-June quarter expanded 6.95 percent annually from US$132.35 billion a year earlier to US$141.55 billion, after orders last month grew slower than expected at 3.1 percent year-on-year amid weak demand for notebook computers and smartphones, the ministry said.
The ministry said it had expected an annual expansion of at least 10.9 percent.
Photo: CNA
During the first half of this year, export orders rose 2.3 percent to US$274.86 billion, compared with US$268.56 billion a year ago, it said.
“The latest data re-enforced our confidence that export orders are back to a recovery mode and expected to grow steadily in the second half of the year,” Department of Statistics Director Huang Yu-ling (黃于玲) said via telephone. “Restocking demand before the shopping season also helps.”
The ministry forecast export orders this month to reach US$46.5 billion to US$48.5 billion, representing an annual decline of 2.6 percent to a growth of 1.6 percent, Huang said, attributing the slight improvement to a higher comparison base in July last year.
Orders of information and communications technology products last month increased 3.6 percent annually to US$12.74 billion, backed by robust demand for AI applications, and cloud-based devices and servers. During the first six months, orders sank 1.5 percent to US$77.49 billion.
Orders of electronic products rose 6.3 percent to US$15.54 billion last month, primarily fueled by robust demand for foundry services, AI-related applications and HPC devices, the ministry said. Orders in the first six months jumped 10.4 percent to US$96.69 billion.
Orders for optoelectronics products expanded 5.8 percent to US$1.79 billion last month, attributable to increases in demand for camera lens modules and optronic inspection tools, as the US and Europe boosted semiconductor manufacturing equipment spending. Orders jumped 11 percent to US$9.91 billion in the first half.
Orders of base metals orders rose 2.5 percent to US$2.1 billion last month, thanks to improving demand for stainless steel and copper foils, the ministry said. However, orders in the first half fell 0.3 percent to US$12.84 billion.
Orders of machinery goods climbed 3.4 percent to US$1.67 billion last month due to better demand for new manufacturing equipment, but orders in the first half dipped 3.8 percent to US$9.51 billion, the ministry said.
Orders of plastic products increased 2.7 percent to US$1.6 billion on higher average selling prices and rising inventory restocking demand. Orders expanded 1.7 percent to US$9.58 billion in the first two quarters, it said.
Lastly, orders for petrochemical products grew 9.5 percent last month to US$1.6 billion, as higher global crude oil prices helped boost product prices. Orders rose 5.6 percent to US$9.27 billion in the first half, the ministry said.
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