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Taiwan’s October export orders fall for 14th straight month

Taiwan exported NT$1.66 trillion in goods in October

Cargo ships at Kaohsiung port.

Cargo ships at Kaohsiung port. (CNA photo)

TAIPEI (Taiwan News) — Taiwan’s export orders in October fell for the 14th consecutive month, the Ministry of Economic Affairs (MOEA) said on Monday (Nov. 20).

Export orders came in at US$52.9 billion (NT$1.66 trillion) in October, representing a 4.6% decrease from a year earlier. Cumulative exports for the first 10 months of the year were US$466.6 billion, down 17.3% year-over-year.

Looking at orders by sector, electronics exports in October totaled US$18.81 billion, down 0.3% from a year prior. Information and communications products came in at US$17.5 billion, representing a 5.2% decline year-over-year.

Basic metals exports in October hit US$1.99 billion, a decline of 5.4% compared to the same period last year. Electric machinery product exports were US$1.57 billion, down 6.5% from a year earlier, while machinery exports came in at US$1.47 billion, a 12.8% contraction year-over-year.

Plastics and rubber exports were US$1.51 billion, representing a 6.9% decline from a year prior. Meanwhile, optoelectronics exports totaled US$1.67 billion, a 13.8% growth from a year earlier.

In terms of export destinations, orders to the U.S. led the way in October with US$16.65 billion in orders, representing a 1.4% decline from a year prior. Next was China at US$11.37 billion, a 1.2% increase year-over-year.

Exports to ASEAN countries accounted for US$8.25 billion, up 94.9% from a year earlier, while orders to Europe came in at US$7.92 billion, down 45.8% year-on-year. Meanwhile, exports to Japan were US$2.35 billion, representing a 17.6% decline from a year prior.