It looks as thou July was a good month....
Taiwan Export Orders Rise 3.8% in July on Month
Taipei, Aug. 21 (Bloomberg) -- Taiwan's July export orders rose 3.81 percent from June, fueled by demand for electronics from recovering Asian economies such as South Korea and Japan.
July orders rose to US$10.9 billion, the fifth consecutive month the figure has topped US$10 billion, the Ministry of Economic Affairs said. The July figure is also 9.8 percent higher than a year ago.
For the full year, the ministry expects export orders to grow by as much as 5 percent over 1998.
``Taiwan's electronics industry is really booming,' said Chang Yao-tsung, director of the ministry's statistics department. ``Computer chipmakers, especially wafer foundries, can't catch up with increasing orders.'
Orders for electronics products in July rose 22.8 percent from a year earlier to US$1.8 billion.
Taiwan Semiconductor Manufacturing Co., the world's largest maker of computer chips to customer design, said its sales in July set a third consecutive monthly record, doubling from the same month last year.
Goods ordered in July are typically shipped in the following three months, and the bookings are a leading indicator of actual customs-cleared export tallies. Rising exports this year have helped fuel a rebound in the island's economic growth, which the government expects to reach 5.7 percent in 1999.
Orders from the U.S., Taiwan's biggest export market, rose 8.6 percent. Orders from the No. 2 market Hong Kong, which include indirect shipments to China, rose 18.9 percent. Orders from Japan rose 14.8 percent, while orders from Europe slipped 0.44 percent.
Separately, the ministry said its July industrial output index rose 7.12 percent from a year earlier to 120.78.
Aug/21/1999 0:12
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