Driven by solid global demand for high technology products, Taiwan's export orders in March rose to US$62.69 billion, the highest ever for the month, the Ministry of Economic Affairs (MOEA) said Wednesday.
The figure represented a 16.8 percent increase from the same period last year and was also the 25th straight month of growth, MOEA data showed.
This is the first time, the value of Taiwan's export orders exceeded US$60 billion in March, beating the government forecast of US$58.5 billion-US$60 billion, the MOEA said.
Taiwan has also received US$173.13 billion worth of orders in the first quarter this year, a record high for the quarter and an increase of 16.2 percent from Q1 2021, according to the ministry.
The growth can be attributed to an improvement in the supply of raw materials and robust demand for new emerging technologies, said Huang Yu-ling (???), head of the MOEA's Department of Statistics.
Looking ahead, however, Huang said the worsening COVID-19 situation in China may pose uncertainties for future orders as 43 percent of the production capacity of Taiwanese businesses is based in China.
Lockdowns have recently been imposed in major Chinese cities, including Shanghai and Kunshan, where COVID-19 cases have soared.
According to a MOEA survey for the top 100 Taiwanese businesses manufacturing in China, 11 of the 79 companies that replied said the value of their March orders was down because of the lockdowns, with eight of them technology firms. Sixty-three respondents said there was no change.
The companies pointed out that the production gap can be temporarily filled through other arrangements, but there could be substantial challenges for their supply chains if the situation continues or if stricter disease control measures are introduced.
Source: Focus Taiwan News Channel