Taiwan Export Orders Plunge 16%

(RTTNews) - Taiwan's export orders declined at the steepest pace in sixteen months after recovering in the previous month, according to data released by the Ministry of Economic Affairs on Monday.

Export orders fell 16.0 percent year-over-year in December, reversing a 1.0 percent increase in November, which was the first rise in fifteen months.

Meanwhile, orders were expected to decrease slightly by 0.25 percent.

Orders for transport equipment declined the most by 30.7 percent, followed by information and communication products, which slid by 25.3 percent.

Foreign orders for plastic, rubber, and related products decreased 15.6 percent, while those for textile products grew by 2.6 percent.

On a monthly basis, export orders decreased by a seasonally adjusted 13.5 percent in December.

In New Taiwan dollar terms, export orders tumbled by 14.4 percent yearly, and they dropped 15.2 percent monthly in December.

Separate official data showed that Taiwan's jobless rate rose to a seasonally adjusted 3.40 percent in December from 3.37 percent in November.

On an unadjusted basis, the jobless rate dropped marginally to 3.33 percent in December from 3.34 percent in November. Unemployment decreased to 399,000 from 400,000.