Taiwan’s November export orders miss expectations, China drags
2024.12.20 04:07
TAIPEI (Reuters) – Taiwan export orders grew more slowly than expected in November as weaker shipment for smartphones offset strong demand for artificial intelligence technology amid softness from China.
Export orders rose 3.3% last month to $52.27 billion from a year earlier, the economy ministry said on Friday. That lagged the 6.3% gain forecast in a Reuters poll and October’s expansion of 4.9%, but marked the ninth straight month of growth.
Orders for goods from Taiwan, home to tech giants such as chip manufacturer TSMC, are a bellwether of global technology demand.
The ministry expects export order momentum to continue next month, thanks to high demand for advanced semiconductors and AI and partly driven by vendors rushing to stockpile ahead of the Lunar New Year holiday, which falls in late January 2025.
However, the momentum could be offset by factors such as geopolitical tensions and U.S.-China technology disputes, it added.
The ministry said it expects export orders in December to rise between 13% and 17.5% year-on-year.
Taiwan’s orders in November for telecommunications products were down 2.3% year on year, while electronic product orders rose 7.2% in the same period.
Overall orders from China worsened, down 3.4% versus a 0.1% fall the prior month. Orders from the United States jumped 11.7% versus a 12.6% gain in October.
Orders from Europe fell 7.9% in November after gaining 2.7% in October. Orders from Japan were up 17.8% versus a rise of 5.3% the prior month.
