Taiwan lifts export orders 2.5% in first quarter as sales to US, Europe lift

TAIPEI - Taiwan’s export orders rose by 2.5% on-year in the first quarter of 2015 to a record high of US$107.36 billion, bolstered by strong global demand for electronics, machinery and information communications technology products.

Improving conditions in Europe and the US were the primary reason behind the stronger trade performance, according to Lin Lee-jen, Director-General of Taiwan’s Department of Statistics, Ministry of Economic Affairs.
Orders for ICT products rose 13.6% on-year to US$29.72 billion, accounting for 27.7% of the total. Electronics and machinery picked up 5.3% and 10% to US$27.25 billion and US$5.44 billion, respectively.
“Demand for mobile devices continued to create business for Taiwan’s contract memory and wafer manufacturers, packaging and testing service providers, and component and part suppliers,” Lee said.
She attributed double-digit growth in machinery orders to expanding capital investment in Europe, the US, ASEAN and Mainland China. But orders for basic metals, chemicals, plastic and rubber products, and precision instruments dropped by between 5.9% and 11.8%.
Lee said the underperformance of these sectors stemmed from weak global oil prices, dampened demand for petrochemical products, excess worldwide steel supply and stiff competition from mainland Chinese panel manufacturers.
The US remained the top source of export orders, jumping 17.2% to US$28.53 billion, 26.6% of the total. Exports to Mainland China—including Hong Kong— at  US$26.12 billion, were down 2.5%, but Europe, at US$21.9 billion, was up 11.8%. www.taiwantoday.tw (ATI).