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Economic Indicator

20 Dec 2021

Taiwan Export Orders for Nov Hit Record High; 2022 Outlook Uncertain

The Index Today

Export orders of Taiwan increase faster than expected in November to a record high due to growing technology demand ahead of the year-end holiday shopping season, but the government warned of many uncertainties for 2022 that could actually affect the outcome.

Data from the Ministry of Economic Affairs showed on Monday that the Taiwan's export orders, grow at 13.4% from a year earlier to $65.5 billion last month, the highest monthly figure on record.

That was the 21st month of expansion, with the pace much faster than the median forecast for a rise of 5.8% in a Reuters poll.

The ministry said the easing of supply chain problems and the solid consumer demand for technologies such as notebook computers and 5G are expected ahead of the festive season.

©Photo: Billy H.C. Kwok/Bloomberg

Clay pottery with table linens