Taiwan's export orders fell for the fifth straight month in March, and at a...
TAIPEI - Taiwan’s export orders fell for the fifth straight month in March, and at a much sharper pace than expected, as the island’s manufacturers kept struggling with a drop in global tech demand.
For January-March, export orders slid 8.4 percent, the biggest annual drop for a first quarter since 2009 when they tumbled 30 percent, the ministry said. The ministry said the March shrinkage was also due to declining machinery orders due to business caution in China as the U.S-Sino trade dispute continues.
Carl Liu, an analyst at KGI Securities, said Taiwan export orders “are unlikely to return to growth until in June, thanks to re-stocking of electronics ahead of the peak season in the third quarter”.The ministry said it expects April export orders to decline 6.7-9.2 percent, and that it could be July before orders rebound.
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