Taiwan’s export orders in September beat forecast, warn of Chinese restrictions, Telecom News, ET Telecom
Taiwan’s export orders, an indicator of global demand for technology, rose 25.7 percent from a year earlier to reach $ 62.9 billion in September, a record high, showed Wednesday data from the Ministry of Economic Affairs.
It was the 19th month of expansion, and the pace was much faster than the median forecast of a 17% increase in a Reuters poll.
The ministry said new smartphone launches and demand for new technology have helped support export orders, as well as storage for the Christmas and New Year holidays.
Taiwanese companies such as Foxconn and Taiwan Semiconductor Manufacturing Co Ltd (TSMC) are major suppliers to Apple Inc, Qualcomm Inc, and other global technology companies.
Apple unveiled the iPhone 13 and a new iPad mini last month, expanding 5G connectivity and showing faster chips and sharper cameras without raising the price of the phone.
Looking ahead, the ministry has warned of uncertainty over China’s energy restrictions, which have closed factories in parts of the country, and the global risk of the COVID-19 pandemic.
However, the year-end shopping season and demand for 5G and other new technologies will help maintain steady growth in export orders, the ministry added.
Ministry statistics director Huang Yu-ling said he expected export orders for the entire year to increase by more than 20 percent from 2020.
In August, export orders jumped 17.6% from the previous year to $ 53.5 billion.
The ministry said it expects export orders in October to increase between 22.1% and 25% from the previous year.
Orders from the United States were up 29.3% in September from the previous year, a faster pace of expansion from the 19.2% recorded in August, while orders from China rose 11.5%, compared to a gain of 15.9% the previous month.
Orders from Europe jumped 53.1%, while those from Japan rose 2.6%.