Taiwan Export Orders Fall 12.0%, Less Than Forecast

(RTTNews) - Taiwan's export orders continued to decline sharply for the tenth consecutive month in July, though at a slower-than-expected pace, according to data released by the Ministry of Economic Affairs on Monday.

Export orders registered a double-digit annual fall of 12.0 percent in July, but well below the 24.9 percent plunge in June. The expected fall was 16.5 percent.

Orders for mineral products decreased the most, by 42.4 percent, followed by chemicals with a 25.4 percent slump. Similarly, foreign orders for transport equipment were down, notably by 25.3 percent.

The slowdown in global economic growth, weak demand for end products, and conservative investment intentions of manufacturers, coupled with lower international raw material prices, were the factors behind the decline in major categories, the ministry said.

On a monthly basis, export orders rose by a seasonally adjusted 8.0 percent in July.

In New Taiwan dollar terms, export orders decreased by 8.1 percent yearly, while they grew by 9.4 percent monthly in July.