Taiwan’s export orders in July reached US$50.03 billion (NT$1.596 trillion), reflecting a 4.8% year-on-year increase, according to the Ministry of Economic Affairs (MOEA). This marks the fifth consecutive month of growth, surpassing initial expectations. The MOEA attributed this growth to strong demand in the artificial intelligence (AI) sector. Additionally, the peak season for consumer electronics in the second half of the year has contributed to the rise in export orders.
Huang Yu-ling, Director of the MOEA Department of Statistics, noted that the consumer electronics segment continues to present growth opportunities, with a quarter-by-quarter increase in orders anticipated. For example, export orders in August are expected to rise by 11% compared to the previous year. Despite an earlier forecast adjustment that reduced the expected growth rate for July from 2.6% to 1.6%, actual export orders exceeded these predictions. The reported US$50.03 billion represents a month-on-month increase of 9.8% and a 4.8% increase annually.
The MOEA also reported that July’s export orders have remained above the US$50 billion mark for seven consecutive months since November of the previous year. Among the seven export categories, six saw positive growth, with chemicals being the only category to show a year-on-year decrease. The strong demand for emerging technologies like AI, alongside growth in mainstream technologies such as laptops and tablets, played a significant role in boosting export orders. Although cell phone orders did not see a significant rise, upstream electronics companies are beginning to increase component inventories, leading to more orders for memory, printed circuit boards, and passive components.
According to MOEA data, orders for information and communication products in July were US$14.13 billion, showing a 10.9% monthly increase and an 11% annual increase. The demand for AI and cloud services significantly contributed to this growth, particularly in server orders. Electronic product orders reached US$18.1 billion, setting a record high for the month of July, with a 16.5% monthly increase and a 2.2% annual increase. Orders for optical equipment totaled US$1.78 billion, reflecting a slight month-on-month decrease of 0.4% but a 7.8% year-on-year increase, driven by new mobile phone product launches.
Looking ahead, the MOEA highlighted potential challenges, including uncertainties in global monetary policies, geopolitical risks, and ongoing technology disputes. Despite these challenges, Taiwan’s semiconductor industry and related supply chains continue to maintain a competitive edge. With consumer electronics entering their peak sales season, further growth in export orders is anticipated.
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