TAIPEI (Taiwan News) — Taiwan’s export orders fell in August for the 12th month in a row, the Ministry of Economic Affairs (MOEA) said Wednesday (Sept. 20).
Export orders in August contracted by 15.7% from the same month last year to US$46.04 billion (NT$1.47 trillion), per CNA. For the period from January to August, Taiwan’s export orders totaled US$362.33 billion, or 19.1% less than the figure for the same period in 2022, according to the MOEA.
Orders for information technology and audiovisual products fell for the seventh month in a row, by 14.6% to US$12.19 billion. Products of the electronics sector saw their export orders drop by 17.3% to US$15.76 billion, their 10th consecutive decline.
The MOEA said weak overseas demand due to the persistence of inflationary fears and possible interest rate hikes were behind the continued decline in export orders.