Taiwan’s export orders gained 13.47 percent from a year earlier to reach US$34.46 billion on the back of strengthening global demand, according to the Ministry of Economic Affairs Feb. 21.
“Demand from all major markets has been on the rise, signaling a general and steady economic recovery worldwide,” said Beatrice Tsai, deputy director-general of the MOEA Department of Statistics. “This is the best result on record for the first month of the year.”
Tsai said electronics, information and communication technology products and precision instruments—including display panels—remained the top three sectors, accounting for 56 percent of total orders.
The machinery and chemicals sectors performed particularly well, surging 58.52 percent and 37.58 percent, respectively, to their second highest levels in history, she added.
Of concern is the strength of the New Taiwan dollar against the greenback, Tsai said, adding that this could put the country at a disadvantage compared to regional rivals such as Japan and South Korea.
The rising local currency has slashed NT dollar-denominated export growth to a 15-month low of 3.57 percent. This has seen a drop off in orders from Japan as companies there respond to exchange rate fluctuations.
With fewer work days in February, Tsai expects export orders to slightly retreat from the month before. (JSM)
Write to Meg Chang at meg.chang@mail.gio.gov.tw