Taiwan’s export orders reached a new high in 2021, driven by sustained global demand for electronic components and information and communications devices, the Ministry of Economic Affairs (MOEA) said Thursday.
According to MOEA data, the country’s export orders grew by 26.3 percent from 2020 to US$674.13 billion last year, the biggest spike since 2005.
In December 2021 alone, export orders totaled US$67.9 billion, an increase of 12.1 percent from a year earlier, reflecting 22 consecutive months of growth, the data showed.
Huang Yu-ling (黃于玲), director of the MOEA’s Department of Statistics, said booming technologies, such as 5G applicationsand high performance computing (HPC) devices, continue to push up global demand for electronics components, including semiconductors.
Moreover, orders for information and communications products were also increased by the gradual alleviation of supply chain disruptions late last year and solid demand for portable devices, she said.
Throughout 2021, electronic component suppliers received US$207.4 billion worth of export orders, up 28.5 percent from a year earlier, while orders for information and communications products such as servers, notebook and cellphones rose 17.4 percent to US$193.07 billion, the MOEA data showed.
Orders for electronic components and information and communications products combined totaled US$400.47 billion in 2021, accounting for 59 percent of total exports, the MOEA said.
Meanwhile, old economy industries such as chemicals, plastics and base metal businesses pushed Taiwan’s overall export orders higher last year because of increasing infrastructure projects in major countries and rising raw material prices, Huang said.
Export orders for base metals soared 49.1 percent in 2021 to US$37.07 billion, and orders for plastic and rubber items as well as chemical products also saw double-digit growth, Huang said.
However, orders for machinery manufacturers fell by 1.4 percent to US$2.26 billion in December 2021 compared to a year earlier, Huang noted, attributing the decline to slowing economic growth in China subsequently impacting investment.
In 2021, the United States accounted for most orders for Taiwan-made goods totaling US$200.14 billion, representing 29.68 percent of the total, followed by China and Hong Kong with US$175.05 billion, accounting for 25.96 percent, according to the MOEA.
Looking ahead, the global economy is recovering following the rollout of vaccines and stimulus measures by governments around the world, and COVID-19 will continue to drive demand for tech products and boost Taiwan’s exports, Huang said.
In January, Taiwan’s export orders are expected to range between US$58.5 billion and US$60 billion, a decline of 11.6-13.8percent from December 2021 but a year-on-year increase of 11-13.8 percent, Huang said.
The decline in export orders for January is a product of slow season effects, she added.
Source: Focus Taiwan News Channel