Taiwan exports lift 3.4% in January, top growth in China, Korea

TAIPEI - Taiwan’s export orders rose by 3.4% on-year in January to US$25.12 billion, buoyed by global demand for electronics, machinery, optical devices and transport equipment.

“January saw Taiwan’s export performance outstrip that of South Korea and mainland China, which declined 0.4% and 10.8% respectively,” said David Hsu, deputy director-general of Taiwan’s Bureau of Foreign Trade.
Orders for nine of Taiwan’s 11 major export sectors registered growth in January, with four reporting double-digit increases. Machinery led the way at 18.6%, followed by optical devices at 17.1%. Electronics, which account for 33.2% of Taiwan’s overall exports, surged 11.9% and transport equipment by 11.6% compared with last year.
But orders for chemicals and minerals dropped by 9.8% and 48.4% respectively, due to lacklustre demand.
China, including Hong Kong, remained the top source of orders, up 11.8% to US$10.34 billion. The US came in second with an increase of 8.1% to US$2.88 billion. Exports for Japan rebounded after a December slump, growing 2.7% to US$1.7 billion. Orders from Europe and the ASEAN, however, dropped 12.6% to US$2.12 billion and 7.5% to US$4.21 billion, respectively. www.taiwantoday.tw (ATI).