Taiwan’s export orders declined for a third straight month in June but at a slower-than-expected pace, figures from the Ministry of Economic Affairs showed Monday.
Export orders fell by 5.8 percent year-over-year in June, following a 5.9 percent decline in May. Economists had expected a 6.5 percent drop for the month.
Orders for wood, articles of wood and manufactures plunged 42.0 percent in June from the previous year, and that for basic metals and articles dropped 11.8 percent and orders for precision instruments, clocks and watches, musical instruments tumbled 15.9 percent.
Demand for chemicals dropped 17.4 percent and orders for plastics and rubber goods decreased 13.8 percent. Orders for electronic products decreased 6.7 percent, while that of information and communication products increased 1.8 percent and household electrical appliances demand jumped 14.5 percent.
On a monthly basis, export orders rose for the first time in three months by 2.2 percent in June, following a 4.1 percent drop in the prior month. On a seasonally adjusted basis, orders rose 0.1 percent in June.
In the second quarter, export orders fell 5.2 percent on annual basis, while it rose 2.2 percent on quarter-over-quarter.
In the January to June period, total export orders declined 1.5 percent compared with the corresponding period last year.
The material has been provided by InstaForex Company – www.instaforex.com