TAIPEI (Taiwan News) — For the first time ever, Taiwan’s export orders for the month of March reached a value of more than US$60 billion (NT$1.75 trillion), the Ministry of Economic Affairs (MOEA) said Wednesday (April 20).
The precise figure of US$62.69 billion was achieved thanks to the resilience of the electronics and traditional manufacturing sectors, CNA reported. The March total amounted to a rise of 16.8% from March 2021, and a 25th consecutive monthly increase.
Original predictions for March export orders had ranged from US$58.5 billion to US$60 billion, but the higher figures were caused by strong demand fueled by the use of new technologies, digital transformation, and the gradual resolution of supply chain problems.
The export orders for the full first quarter also reached a record of US$173.13 billion for that period, 16.2% higher than the first quarter last year. The best-performing sector was electronics, with US$20.86 billion and a year-on-year increase of 31.7%, according to the MOEA.
Predictions for April ranged from US$55.5 billion to US$57 billion, but the impact on supply chains due to China’s imposition of COVID-19 lockdowns is to be closely watched, officials said.