Taiwan's Export Order Value Hits Record High of US$220.46B. in H1

The value of export orders received by Taiwan's manufacturers and traders totaled US$38.82 billion in June for a sizable annual growth of 10.6%, a fifth consecutive monthly rise, with the H1 value reaching US$220.46 billion, the highest of its kind on record, according to the statistics released by the Ministry of Economic Affairs (MOEA).

L.C. Lin, director of the Statistics Department of MOEA, says that the orders received in H1 rose an annual 5.4%, with H2 orders expected to be on an uptrend due to the peak season for foreign trade.

A stable global business climate in H2 will likely enable Taiwan's export order value to hit a record high of over US$450 billion for 2014, Lin says.

Driven by strong demand for hand-held devices globally, Taiwan's electronics industry received orders of US$9.79 billion in June for a sharp year-on-year rise of 17%. Likewise, the ICT industry got orders of US$10.2 billion in the same month for an YoY growth of 8.8%; and traditional industries such as machinery, iron & steel, plastic & rubber, and chemical items all witnessed positive growths as well.

However, the orders for precision devices in June dropped for the 14th consecutive month due mainly to stiff competition from South Korea and China.

The island's directional movement Index (DMI) of export order value for July is 54.2, higher than the median level of 50, suggesting export order value in July to likely exceed that in June. (JL)