Taiwan is likely to report a year-on-year increase in export orders for a fourth consecutive month in November amid rising global demand in the run-up to the year-end holiday buying spree, the Ministry of Economic Affairs (MOEA) said Sunday.
The MOEA said higher demand for electronics gadgets and other products fueled by an improving global economy likely led to an increase in orders to Taiwan in November compared with a year earlier.
The ministry is scheduled to release the November export order figures on Dec. 20.
In October, orders received from abroad by companies in Taiwan totaled US$42.68 billion, up 0.3 percent from the previous year after a 3.9 percent year-on-year increase in September, according to MOEA statistics. That figure was 8.3 percent for August.
The MOEA attributed the minimal gains in October to the product transitions many international high-tech brands were undergoing, but it said the situation changed in November, and export orders should rise 2.6-5 percent year-on-year to between NT$41.8 billion and NT$42.8 billion.
According to the MOEA, international brands wanted to built up inventories in November to meet the year-end holiday demand for a wide range of gadgets, in particular handheld devices and notebook computers.
The growing number of applications related to the Internet of Things and automotive electronics also likely boosted orders during the month, the MOEA said.
In October, orders for information and communications devices such as smartphones, notebook computers and tablet computers rose 0.9 percent from a year earlier, while orders for electronic components, such as semiconductors, grew 5.6 percent year-on-year, the MOEA data showed.
The MOEA said global demand for flat panels remained solid, pushing product prices higher, and higher commodity prices also boosted the value of Taiwan's export orders.
Meanwhile, the MOEA said industrial production for November is expected to rise year-on-year for the fourth consecutive month.
In October, the local industrial production index rose 3.7 percent from a year earlier to 109.6 after a 5.02 percent increase seen in September. The yearly increase rate for August was 7.78 percent.
In addition to rising demand for high-tech devices, which is expected to bolster the output of Taiwanese electronics manufacturers, the launch of new car models and a rise in international crude oil prices should also push industrial production higher in November.
The ministry is scheduled to report the November industrial production data on Dec. 23.
Source: Focus Taiwan News Channel