Taiwan's export orders received in October amounted to US$ 46.6 billion (NT$ 1.39 trillion) for a surge of 9.2 percent over last October, a single-month high in history and representing the 15th consecutive month of growth, according to the latest statistics compiled by the statistic department of Taiwan's MOEA (Ministry of Economic Affairs).
Li-Chen Lin, director of the statistics department, holds optimism about Taiwan's monthly export orders are very likely to continue to hit a record high in the remainder of this year.
Taiwan's cumulative export revenue by mainstay industries, including information & communication, electronics and traditional manufacturing, for the first 10 months of this year have totaled US$395.6 billion (NT$11 trillion), up around 10 percent over the same period of last year and an all-time high in history. Also notable is that it is the first double-digit growth rate ever seen in the past 6 years.
Worth mentioning is that gaining steam mostly from Apple Inc., which routinely launches its new products during the second half of each of the past years, Taiwan's exports are believed to experience an even longer growth streak than expected, especially at a time when launch of iPhone X, Apple's most important smartphone model in the decade, has just been postponed to November, which will help maintain growth momentum for Taiwan's export for the remaining two months of this year.
Lin noted, the high season for Taiwanese exporters in a year usually lasts 4-5 months after September. Nevertheless, the year 2017 may be an exception, as the officer stated that the this year's peak season is very likely to extend to the end of the first quarter of next year, given that iPhone X has yet to be launched.
Lin mentioned iPhone 6, the biggest revision of Apple's smartphone range in 2014, as an example. Thanks to Apple's decision to launch its first smartphone with larger-sized screen, growth momentum for export in the year lingered into the first season of 2015. A similar growth trajectory will likely come this year.
Lin continued, export revenue in the remaining two months is expected to continue to hit a new high, whereas a majority of Taiwanese exporters also think that orders received in November will exceed that in December in terms of value.
Lin forecasted that Taiwan's export orders in November will show a YoY growth of 7.7 to 10 percent, to an estimated US$ 4.7-4.8 billion (NT$141 billion- NT$144 billion); and value of export orders for the whole year is estimated at US$ 4.92 billion (NT$147 billion), a zenith in history.
Benefiting from iPhone's launch, export orders received by Taiwanese companies from the U.S, Europe, China and Hong Kong in October all amounted to over US$10 billion (NT$300 billion) each. Noteworthily, orders from the U.S. and Europe, in terms of value, both beat single-month records for all time, while those from China and Hong Kong reached new highs for the month in history.
In the meantime, Taiwan's overall export orders for ICT (information and communication technology) products and electronics this October also hit an all-time high. As long as market demands for such products continue to swell, Taiwan's export orders from the U.S. and Europe will also keep growing in value for sure.
The additional good news for Taiwan's export-driven economy is that export orders received by local industries of base metal, chemicals, and plastic & rubber, all showed double-digit growth rates in the month, to which a couple of factors were attributed, including the continued recovery of the global economy, growing willingness of global enterprises to invest in fixed assets, and price hikes of crude oil, according to MOEA's report.
photo provided by EDN.com
Automechanika Shanghai 2019 is well on its way to continue its succession of record-breaking shows. Boasting even more industry participation than ever before, the fair sees 6,590 exhibitors from 46 countries and regions around the world, a five percent increase from the previous edition. The show introduces a host of new themed zones and areas in keeping with industry trends, as well as expands ...
South Korea may have been hit the hardest among major economies by the protracted trade dispute between the United States and China due to its high dependence on exports to the countries, a report said Tuesday.The U.S. and China are the world's largest importers of South Korean products with shipments to China accounting for more than one-quarter of South Korea's overall exports last year, accord...
Donald Trump will reimpose tariffs on imports of steel and aluminium from Brazil and Argentina after accusing the countries of a “massive devaluation” of their currencies that hurt US farmers. The move — which was announced by Mr Trump on Twitter on Monday — sharply escalates trade tensions with the two struggling Latin American economies as they build closer ties with China.The announcement ...
Automechanika Shanghai 2019 is well on its way to continue its succession of record-breaking shows. Boasting even more industry participation than ever before, the fair sees 6,590 exhibitors from 46 countries and regions around the world, a five percent increase from the previous edition. The show introduces a host of new themed zones and areas in keeping with industry trends, as well as expands ...
LC Fuel Tank Targets EU's Classic Car Market
Sep 05, 2019As a top professional fuel systems manufacturer in Taiwan, and a global player in the automotive aftermarket industry, the fact that car makers are investing more resources into the electric vehicle (EV) than conventional vehicles powered by engine around the world is a challenging situation that LC Fuel Tank Manufacture Co needs to deal with. There’s no fuel tank in EV, only batteries. Each y...
In response to upgrading Taiwan’s hand tools industry and localizing services to the industry chains, China Steel Corporation (CSC), Taiwan Hand Tool Manufacturers' Association (THTMA) , Metal Industries R&D Center (MIRDC), and Corporate Synergy Development Center (CSD) have jointly established the research and testing center for hand tools in Taichung Industrial Park at the opening ceremony on M...
■Lo Su-hua Founded in 2001, TWL started its career as auto parts and aftermarket accessories trading company while entering the field of OEM of carbon fiber auto parts in 2012. However, with many years of manufacturing experience, TWL found a problem that has existed so long in the carbon fiber auto parts industry–the prices in the carbon fiber auto parts’ material are hugely different and...
■Lo Su-hua Concentrated on R&D, after-service and production, the Taiwan-based Airboss Air Tool Co., Ltd., a world-caliber supplier of pneumatic tools, which specialized in manufacturing compacted, light-weight, user-friendly pneumatic tools, high safety. The products are made with magnesium alloy and many specialties as lightweight, high precision, high rigidity. They are not only eco-fri...
■Tseng Lung-nan Equipped with a top-down supply chain, Hsin Yi Chang Industry Co., Ltd. is a company that has over 38 years of experience in vehicle visors and various precise acrylic molding. The firm markets its brand under “HIC” in Taiwan and many countries worldwide. HIC has been rolling out new vehicle visors, compatible with over 2,000 car models and types. Hsin Yi Chang General Manag...
■Yang Feng-Chun In a bid to assist manufacturers in Changhua County to expand their market reach overseas against severe competition in the globalized market, Changhua County Government has been an active player in pushing for a makeover and innovation of its local small and medium-sized enterprises. This is done in hopes of establishing stronger connection with international markets. An ex...
Founded in 1980, Paul Master Auto Parts Co. is headquartered in Taiwan, a professional manufacturer of chassis and engines parts for passenger cars, trucks, and industrial trucks including forklifts. General Manager Terry Liang said the company has its own professional design department, which provides customized products and specifications for global buyers, including automobile steering and...
Taiwan First brakes Technology Co., Ltd.
Sep 04, 2019Nan Hoang Traffic Instrument Co., Ltd is one of the major manufacturers of automobile friction materials in Taiwan and globally. Chairman Austin Cheng has implemented the double-arrow strategy this year - own brand of “YangPo” is adopted to focus on global channels while the “NHC brand focuses on improving market shares in global markets, such as Europe, America, Asia, Australia, and the Middle E...
Automechanika Shanghai 2019 is well on its way to continue its succession of record-breaking shows. Boasting even more industry participation than ever before, the fair sees 6,590 exhibitors from 46 countries and regions around the world, a five percent increase from the previous edition. The show introduces a host of new themed zones and areas in keeping with industry trends, as well as expands ...
As industry players approach the end of the year, Automechanika Shanghai 2019 participants look ahead at the latest products, services and technologies of the future. The show opens tomorrow until 6 December at the National Exhibition and Convention Center, (Shanghai). Being recognised as one of the most influential automotive trade fairs in the industry, it continues to act as a central hub for ...
Organised by the Hong Kong Trade Development Council (HKTDC), the 21st Hong Kong International Lighting Fair (Autumn Edition), the fourth Hong Kong International Outdoor and Tech Light Expo and the 14th Eco Expo Asia concluded with more than 59,000 buyers from 135 countries and regions visiting the three fairs. HKTDC Deputy Executive Director Benjamin Chau said: “Despite the recent public inc...
