February 22, 2023
In January 2023, orders for Taiwanese exports decreased by 19.3% year over year to USD 47.5 billion, less than the previous month’s decline of 23.2% and the market’s anticipated 25% decline. Orders decreased the most for base metals (-45.4%), optical, photographic, and cinematographic equipment (-48%), and plastics and rubbers (-49.4%). However, due to a better supply chain situation in China following the removal of COVID restrictions, demand for information and communication products increased by 9.8%, the first growth since September. While demand grew by 18.3% in Europe, orders decreased the most in Mainland China and Hong Kong (-45.9%), followed by ASEAN nations (-29.1%), the USA (-19.3%), and Japan (-6%).
Source: Trading Economics
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