Taipei, Feb. 24, 2011 (CENS)--The value of export orders received by Taiwan's manufacturers and traders reached US$34.46 billion in January for a sharp annual growth of 13.47% and also the highest for the month ever recorded, according to the statistics released by the Ministry of Economic Affairs (MOEA).
Insiders indicated that January is usually an off month for external trade due to business suspension for New Year holidays. However, the unusual thriving export seen in the first month of this year seems to imply accelerated economic recovery in the Unites States and Europe as well as the increasing demand in emerging markets, particularly mainland China.
China has in recent years become Taiwan's No. 1 export outlet. In January Taiwan received US$9.209 billion worth of orders from China, for the sixth monthly highest of its kind. In terms of major products shipped to the mainland, electronics and LCD panels still took lead in export value; while chemicals, plastics& rubber products, and machinery witnessed sizable increase of US$970 million, US$880 million, and US$560 million, respectively. The former two saw the highest growths of their kinds and the latter the second highest of its kind.
Among all export orders for the month, those for electronic products led with US$8.15 billion, up 9.85% from the corresponding figure of last year; and information technology (IT) and telecommunication products closely followed with US$8.08 billion, up 6.83%. Orders for precision devices, including LCD panels, rose by 6.4% to US$2.91 billion.
M. N. Tsai, deputy director of the Statistics Department of MOEA, analyzed that the growth of export orders received in January resulted partly from the hike of prices for raw materials fueled by the soaring international oil prices and partly from strong demand by emerging markets.
In January the United States placed US$7.629 billion worth of orders with Taiwan's manufacturers, the sixth monthly highest of its kind, with orders for IT & telecom items jumping by US$340 million and electronic products surging by US$310 million. During the month Japan's orders to Taiwan grew by 5.18% to US$3.698 billion.
Meanwhile, Taiwan's export orders filled overseas accounted for 49.96% of the total in January, which was lower than 50% for the first time in 10 months.