News
July export orders fall 1.9%
By ECCT staff writers, MOEA
Taiwan's total export orders came in at US$54.3 billion in July 2022, representing a decrease of 1.9% compared with the same month in 2021. However, when measured in NT dollars, the export orders were NT$1,620.5 billion, up by 4.7% on a year-on-year basis, according to a report by the Ministry of Economic Affairs (MOEA).
The July export orders missed an earlier MOEA forecast, which predicted that the figure would range from US$55.5-57 billion. In the first seven months of this year, the country's export orders rose 7.8 percent from a year earlier to US$393.55 billion, the ministry said.
A ministry representative attributed the drop to escalating inflation, which has led to a drop in demand for consumer electronics products. In July, information and communication industry exports fell 0.8% from a year earlier to US$14.96 billion. However, the electronic components industry appeared resilient, reporting an 8.8 percent year-on-year increase in export orders which hit US$17.78 billion as demand for emerging technologies, such as 5G applications, high performance computing devices and automotive electronics, pushed up export orders for semiconductor suppliers, according to the MOEA.
