Taiwan's Export Orders Surge 4.6% in September, Driven by AI and Tech Demand

October 22, 2024
Taiwan's Export Orders Surge 4.6% in September, Driven by AI and Tech Demand
  • However, there were declines in orders for plastic and rubber products, which fell by 1.1%, and chemical product orders decreased by 8.5%.

  • Telecommunications product orders increased by 7.0%, while electronic products saw a significant rise of 10.5% compared to the previous year.

  • In contrast, orders for base metals increased by 4.3% to $2 billion, and machinery products grew by 3.6% to $1.61 billion.

  • Orders from the United States rose by 8.3%, although this was a decrease from an 11.2% increase in August.

  • Looking ahead, the Ministry of Economic Affairs remains cautiously optimistic, expecting October's export orders to grow moderately, with a forecasted annual increase between 1.3% and 5%.

  • In September, Taiwan's export orders rose 4.6% year-on-year, reaching $53.79 billion, marking the largest amount since October 2022.

  • This growth represents the seventh consecutive month of expansion in Taiwan's export orders.

  • The increase was primarily driven by strong demand for artificial intelligence devices, high-performance computing, and cloud services.

  • Notably, semiconductor orders surged 10.5% to $19.01 billion, reflecting robust demand in the tech sector.

  • Orders for information and communications technology products also grew by 7% to $17.6 billion, highlighting the ongoing demand for servers and cloud-based devices.

  • For the first nine months of the year, total export orders increased by 3.7% year-on-year to $428.9 billion.

  • Overall orders from China declined by 3.6%, contrasting with previous months' growth.

Summary based on 2 sources


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Sources


Export orders increase 6.1 percent in Q3

台北時報 • Oct 21, 2024

Export orders increase 6.1 percent in Q3

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