May export orders fall 17%
By ECCT staff writers, MOEA
Taiwan's export orders fell by more than 17.6% year-on-year to US$45.68 billion in the month of May, marking the ninth consecutive month of a year-on-year decline, according to a report from the Ministry of Economic Affairs (MOEA). This follows a 17.6% drop in April. In the first five months of the year, Taiwan's export orders totalled US$224.39 billion, down 20% from the same period in 2022.
In May, the electronics component industry reported US$15.47 of export orders, a 16.6% year-on-year decline while information and communication suppliers received US$12.62 billion in export orders in May, down 9.5% from a year earlier, as demand for cell phones, notebook computers and servers all declined. However, compared with April, the electronics component industry saw an 11.1% increase in export orders, as demand for high performance computing (HPC) devices boosted orders, according to the MOEA.
Broken down by country, the United States was the largest source of export orders to Taiwanese suppliers in May, but the value of those orders still fell 13.5% from a year earlier to US$14.61 billion. China and Hong Kong came in second, placing US$9.74 billion worth of export orders to Taiwan in May, down 20.9% from a year earlier, ahead of the ASEAN countries (US$7.56 billion, up 10.2%), Europe (US$6.79 billion, down 34.9%) and Japan (US$2.68 billion, up 0.1%).