Taiwan's export orders indicate record rise

Taiwan’s export orders indicate record rise

Taiwan's export orders continued their upward trend in April. According to the statement made by the Ministry of Economic Affairs (MOEA), export orders rose by 33.6% in April when compared with the same period of last year. The industrial production index also posted a strong annualized gain of 12.8% in April, driven by growth of 13.97% in the manufacturing sector. Continued improvement in the global economy provided export orders in all industry sectors to achieve strong growth in the mentioned period. Cumulative export orders reached $64.3 billion, up by 25.5% compared to the corresponding period of last year. When it is examined in region base, orders from Europe reported the highest year-on-year growth with 46.2% in April, followed by Hong Kong with 37.2% growth, Japan with growth of 19.9% and the US with growth of 19.4%. The strong growth is expected to continue in the next two months. However, the struggle of China to slow down its economy and a possible US interest rate increase are highlighted as the two negative factors.