Export orders decrease for first time in 2 years
By ECCT staff writers, MOEA, CNA
Taiwan’s export orders came in at US$51.9 billion in April 2022 a decrease of 5.5% compared with the same month in 2021, according to a report by the Ministry of Economic Affairs (MOEA). When measured in NT dollars, the export orders were NT$1.5127 billion, a decrease of 2.5% on a year-on-year basis. It was the first time monthly orders declined on a year-on-year basis for 25 months.
According to MOEA statistics, orders from Europe were down 17% while orders from mainland China & Hong Kong were down 16.9% in the month of April.
Year to date (the first four months of 2022), orders are still up 10.4% but given the steep decline in April, orders from China & Hong Kong and Europe are up by only 3.7% and 4.5% on an annual basis for the first four months of the year. According to a report in CNA, MOEA officials attribute most of the decline to lockdowns in China, which have disrupted the operations and export volumes of many Taiwanese companies.