TAIPEI (Taiwan News) — Taiwan's export orders grew for the ninth consecutive month in November to hit a record high of US$57.78 billion thanks to the increasing global demand for technology products, the Ministry of Economic Affairs (MOEA) said Monday (Dec. 21).
According to MOEA statistics, overseas orders received by Taiwanese companies totaled US$57.78 billion last month, up 12 percent from October and 29.7 percent from a year earlier. It was the largest increase since May 2010 and higher than most international economists had expected.
Export orders for information and communication technology products rose to a new monthly high of US$20.82 billion in November, while those for electronics products increased to US$17.19 billion. Non-tech industrial items also saw a recovering demand and posted US$2.14 billion in export orders.
MOEA's Department of Statistics Director Huang Yu-ling (黃于玲) said the strong growth can be attributed to the recent release of smartphone products by international companies and the stay-at-home economy fueled by the coronavirus pandemic. She said the demand for tech gadgets has surged globally due to more people working and studying at home.
Huang also said that the ministry forecasts the growth would continue in December and increase between 29 and 32.5 percent from a year earlier. She said Taiwan's export orders are estimated to rise 9.3-9.6 percent for the whole year to between US$529.7 billion and US$531.1 billion, reported CNA.