TAIPEI (Taiwan News) – The Ministry of Economic Affairs (MOEA) on Monday (Aug. 22) announced that July orders for exports from Taiwan had fallen over the previous month.
The total value of export orders was valued at US$54.2 billion, which represents a decrease of 7.8 percent over the previous month, and a 1.9 percent decrease year over year. The fall in export orders was attributed primarily to reduced exports in the tech-sector.
The export orders fell short of the MOEA’s expectations for July, which had been estimated at US$55.5 billion, reports UDN.
Despite the slight decrease in July exports, the economy remains relatively healthy. Total export orders for 2022 have already surpassed US$393.5 billion. That is a 7.8 percent increase over exports for the first seven months of 2021.
The MOEA’s Director of Statistics, Huang Yu-Ling (黃于玲), said that the ministry currently estimates that exports for August will likely be between US$51 and US$53 billion, reports ET Today. This would be a decrease of between 3.7 to 0.9 percent year over year.