June 21, 2018 / 8:56 AM / 3 months ago

UPDATE 1-Taiwan's May export orders top forecasts on strong China demand

(Adds detail, govt comments)

* May export orders +11.7 pct vs +8.7 pct Reuters poll forecast

* U.S. orders +8.3 pct; China +19.2 pct; Europe +5.1 pct

* Ministry sees June orders up 2.8 pct to 5.3 pct y/y

TAIPEI, June 21 (Reuters) - Taiwan’s export orders grew faster than expected in May fuelled by strong orders from China, showing few signs yet that the trade sector has been hit by rising global trade protectionism.

The trade-dependent economy continues to gain from solid global demand for electronics products although worries the tech cycle may have peaked and rocky China-U.S. trade ties could slow export momentum in the second half of the year.

Orders for the trade-reliant economy rose 11.7 percent to $41.1 billion from the same period a year earlier, data from the Ministry of Economic Affairs showed on Thursday.

That was stronger than growth of 9.8 percent in April and higher than the median forecast of 8.7 percent growth for May in a Reuters poll.

The ministry said in a statement it sees export orders in June rising between 2.8 percent and 5.3 percent from year earlier to about $41.5-42.5 billion.

Orders from the United States, where Apple Inc is a major customer for major Taiwanese technology component makers, rose 8.3 percent in May from a year earlier.

Orders from China, the island’s biggest trading partner, jumped 19.2 percent. Those from the European Union and Japan climbed 5.1 percent and 7.5 percent, respectively. (Reporting by Emily Chan; Writing by Twinnie Siu and Jess Macy Yu Editing by Jacqueline Wong)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below