Taiwan’s export orders fall in September as economic distress in mainland China intensifies
- Taiwan’s export orders totalled US$60.93 billion in September, down by 3.1 per cent year on year, but up 11.6 per cent on August
- Orders from Taiwan’s biggest buyer, mainland China, reached US$11.55 billion last month, tumbling 27.9 per cent year on year
Global demand for Taiwanese exports declined last month for the fourth time since the start of the coronavirus pandemic as consumption continues to weaken in mainland China.
Taiwan’s export orders totalled US$60.93 billion in September, down by 3.1 per cent from a year earlier, but up 11.6 per cent from August, the Ministry of Economic Affairs said on Thursday.
Orders from Taiwan – for the likes of PCs, servers and smartphones – are seen as a bellwether for the health of other Asian exporters, including South Korea, and an indicator of global consumption trends.
“Inflation and [monetary] easing in various countries have become negative factors that coalesced in the third quarter globally,” said Yeh Yin-hua, chairman of the Taipei-based economic think tank Yuanta-Polaris Research Institute.
“Exports are shrinking, so the economy is sliding. It’s not just Taiwan.