Taiwan's Export Orders Hit New Monthly Record of US$44.9B. in October

Thanks partly to hot sales of the Apple iPhone 6, the value of export orders received by Taiwan's manufacturers and traders reached US$44.91 billion in October for an annual growth of 13.4%, the ninth consecutive monthly growth, according to the statistics released by the Ministry of Economic Affairs (MOEA).

L. C. Lin, director of the MOEA's Statistics Department, indicates that the value of export orders received in October posted a new monthly high and that growth is likely to continue at a double-digit rate in November and December.

In the first 10 months the value of the island's export orders reached a total of US$385 billion; if the figure continues to accumulate at a monthly rate of  US$46-49 billion in November and December, Lin adds, then the full year's value will expand to US$480 billion.

In October alone the value of orders for ICT products, electronic items, and machines all hit new monthly highs, as did the value of orders from the United States, Europe, and six ASEAN countries.

Lin attributes the rise in export orders to the recent depreciation of the New Taiwan Dollar against the greenback. This helped export orders for ICT and electronic products to hit a new monthly high of US$12.9 billion in October, due to ballooning orders for such electronic parts as DRAMs and chips that are in high demand for the iPhone 6.

Orders from Europe showed a sharp year-on-year growth of 30% in October, for the 15th consecutive month of increase. Orders from Japan, however, declined by 4.9% due mainly to the depreciation of the Japanese yen. (JL)