Export orders expanded 18.5 percent year-on-year last month to US$57.93 billion, driven by robust demand for artificial intelligence (AI)-related applications such as servers and emerging technologies, the Ministry of Economic Affairs said yesterday.
Last month’s export orders exceeded the ministry’s original estimate of between US$55 billion and US$57 billion, marking the fourth consecutive increase and hitting the highest level for May.
On a monthly basis, export orders increased 2.7 percent, the ministry said in a report.
Photo: CNA
The stronger-than-expected performance last month was driven by sustained demand for AI servers, semiconductors and high-performance computing services, Department of Statistics Deputy Director-General Huang Wei-jie (黃偉傑) told a news conference in Taipei.
“Although some manufacturers reported a slowdown in front-loading, demand for AI server applications remains strong and supported growth last month,” Huang said.
During the first five months of the year, export orders grew 15 percent year-on-year to US$263.8 billion, ministry data showed.
Looking ahead, export orders this month are expected to decline month-on-month by between 5.1 and 8.5 percent to US$53 billion to US$55 billion. On an annual basis, export orders are forecast to increase by 16.3 to 20.7 percent, the ministry said.
That could bring export orders in the first half of this year to between US$316.8 billion and US$318.8 billion, growing 15.3 to 16 percent year-on-year, the second-highest level on record for the same period, Huang said.
When asked about his view on the export order outlook in the second half, Huang said the ministry would continue to monitor further developments, given that the central bank and the Directorate-General of Budget, Accounting and Statistics both expect the nation’s economy to grow at a slower rate than in the first half.
Export orders for electronic components increased 27.7 percent year-on-year last month, while orders for information and communications technology products grew 29.5 percent year-on-year, and those for optoelectronic products gained 2.8 percent year-on-year, the data showed.
Front-loading orders for consumer products, such as textiles and clothes, before European and US holidays, and Singles’ Day on Nov. 11 also boosted the monthly figure, Huang said.
However, traditional industries remained conservative due to weak market demand and price competition from foreign peers, he said.
Export orders for plastic and rubber products fell 14.3 percent year-on-year last month, while orders for base metals dropped 10.7 percent year-on-year and orders for chemical product fell 17.4 percent year-on-year, the data showed.
The decline in the three product categories was mainly due to oversupply from China, particularly plastic and metal products, Huang said, adding that excessive supply was exported overseas at low prices, undercutting Taiwan’s export orders.
Export orders for machinery products rose 6.8 percent year-on-year last month, the data showed.
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