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Export orders rise for 8th straight month in October

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Taipei, Nov. 20 (CNA) Taiwan's export orders rose in October for the eighth consecutive month year-on-year, hitting a historical high on the back of continued solid demand for tech gadgets, the Ministry of Economic Affairs (MOEA) said Friday.

Data compiled by the MOEA showed the country's export orders rose 9.1 percent from a year earlier to US$51.59 billion in October after a 9.9 percent increase in September.

It was the second straight month Taiwan's export orders have hit the US$50 billion mark, the data indicated.

On a month-on-month basis, exports in October rose 3.1 percent and after seasonal adjustment were up 0.8 percent, according to the data.

In the first 10 months of this year, export orders totaled US$415.33 billion, up 4.8 percent from a year earlier, the data indicated.

In October, Taiwanese electronics component manufacturers received US$15.21 billion in orders, up 17.5 percent from a year earlier as international smartphone and gaming console brands introduced new products to stimulate consumption, the MOEA said.

In addition, semiconductor suppliers in the industry saw strong demand in the wake of emerging technologies such as 5G applications and high performance computing devices, the ministry added.

The information and communications industry saw orders rise 4.4 percent from a year earlier to US$17.03 billion in October, following the efforts of international tech brands to launch new products.

In addition, remote work and online learning amid COVID-19 also boosted demand for devices such as notebook and tablet computers as well as servers and Internet-related communication products, the MOEA said.

The MOEA data indicated old economy industries largely saw reduced impact from the pandemic with their export orders rising at double digit pace in October.

Export orders placed with Taiwanese base metal makers rose 11.5 percent from a year earlier to US$2.34 billion, boosted by a recovery in steel prices, and export orders received by machinery manufacturers rose 13.2 percent from a year to US$1.87 billion on the back of rising demand for production equipment from 5G, semiconductor, medical care and automation suppliers, the MOEA said.

The plastics and rubber industry reported US$2.05 billion in export orders in October, up 13.1 percent from a year earlier, while the chemical industry's export orders fell 1.5 percent to US$1.47 billion, the MOEA added.

Looking ahead, the ministry said strong demand for tech gadgets is expected to increase growth in Taiwan's export orders, but a new wave of COVID-19 infections overseas and continued tensions between Washing and Beijing could still interrupt that growth.

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