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MNI BRIEF: Taiwan Export Orders’ Downturn Sharpens For June

MNI (London)

Taiwan’s export orders contracted 24.9% in June y/y, a sharper fall on May’s 17.6% decline and marking the 10th month of consecutive declines, according to data from the Ministry of Economic Affairs on Thursday.

All major categories fell with electronic products down -22% y/y vs May’s -16.6%. Exporters saw orders drop from most major destinations, although shipments to Mainland and Hong Kong fell 19.7% y/y, a slight improvement on May’s -20.9%.

East Asian export-led economies such as South Korea and Taiwan face headwinds in H2 due to a continued slump in world electronic components demand, and China recovering at a slower pace than expected, a recent South Korean trade expert told MNI. (See: MNI INTERVIEW: S.Korea H2 Export Outlook Hit By Slowing China - Bonds & Currency News | Market News)
MNI Beijing Bureau | lewis.porylo@marketnews.com
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MNI Beijing Bureau | lewis.porylo@marketnews.com
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