Taiwan’s export orders rise in Oct. ’24

Taiwan’s export orders increased 4.9 per cent year-over-year in October 2024 to reach $55.5 billion, according to a report published by the Ministry of Economic Affairs on Wednesday.

Strong demand for electronic products drove export growth, with an 11.2 per cent increase year-over-year. Telecommunications product orders also grew slightly at 0.5 per cent, contributing positively to overall export performance.

Taiwan’s export orders from China improved in October 2024, decreasing by just 0.1 per cent year-over-year, a notable improvement from the 3.6 per cent decline in the previous month.

US orders rose 12.6 per cent year-over-year, outpacing September’s 8.3 per cent growth. European orders rebounded with a 2.7 per cent increase in October after a 4.2 per cent decline in September.

Meanwhile, orders from Japan increased 5.3 per cent year-over-year, this represented a slowdown compared to the 9.8 per cent growth recorded in the same period last year, the report added.

Attribution: The Ministry of Economic Affairs report

Subediting: M. S. Salama