Taiwan New Orders

Orders for Taiwanese exports increased by 4.9% year-on-year to USD 55.5 billion in October 2024, accelerating from a 4.6% gain in the previous month and easily surpassing the market expectations of 3.6% rise. The uptick was mainly driven by increased export orders for electronic products (11.2% vs. 10.5% in September), machinery (5% vs. 3.6%), and basic metals and articles thereof (7.4% vs. 4.3%). Additionally, export orders rebounded for chemicals (3.9% vs. -8.5%). Meanwhile, export orders eased sharply for information and communication products (0.5% vs. 7%) and declined for optical, photographic, and cinematographic apparatus (-0.7% vs. 3.3%). Among key trade partners, demand increased most in the USA (12.6%), followed by Japan (5.3%) and Europe (2.7%).