- POSTED: 21 Jul 2014 18:10
Taiwan's export orders in June rose 10.6 per cent year-on-year to a 17-month high, largely boosted by continuing strong demand for electronic products, the government said on Monday (July 21).
TAIPEI: Taiwan's export orders in June rose 10.6 per cent year-on-year to a 17-month high, largely boosted by continuing strong demand for electronic products, the government said on Monday (July 21).
Export orders totalled US$38.82 billion (S$48.18 billion) in June after the highest on-year increase since 17.9-per cent growth posted in January 2013, and were also up 2.1 per cent from the previous month, the ministry of economic affairs said in a statement.
Orders for electronic items surged 17.0 per cent on-year to US$9.79 billion (S$12.15 billion) as demand for mobile devices continued to grow and spurred business for the semiconductor and DRAM sectors, the ministry said.
Export orders - those filed to manufacturers one or two months ahead of delivery - are a key indicator for the island's export-reliant economy.
Export orders from mainland China and Hong Kong, Taiwan's leading overseas market, rose 14.5 per cent on-year to US$10.21 billion (S$12.67 billion), of which orders for electronic items saw the largest increase of 31.5 per cent, the ministry said.
Orders from other major markets last month were also up year-on-year. US orders climbed 6.7 per cent to US$9.41 billion (S$11.68 billion) while those from Europe rose 15.2 per cent to US$6.86 billion (S$8.51 billion) over a year earlier.
Taiwan's economic growth has been buoyed by a steady recovery in developed countries as well as improved domestic consumption.
The economy grew 3.04 per cent in the first quarter, slightly better than expected.
Full-year growth for 2014 was estimated to be 2.98 per cent, putting Taiwan on course to enjoy its best year since 2011 when the economy posted a rise of 4.19 per cent.