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Taiwan Export Orders Increase More Than Expected

Taiwan's export orders increased more that expected in May, data from the Ministry of Economic Affairs showed on Monday.

Export orders advanced 29.8 percent year-on-year in May. Economists had expected a 29.0 percent growth.

Orders for mineral products accelerated 182.1 percent yearly in May and those of basic metals and articles thereof surged 95.3 percent. Demand for plastics and articles thereof, rubber and articles thereof increased 80.7 percent and transport equipment gained 73.8 percent.

Demand for chemicals grew 64.1 percent and textile products rose 59.0 percent. Orders for machineries and electronic products increased by 55.1 percent and 40.3 percent, respectively.

Bookings for optical, photographic, cinematographic apparatus gained 41.0 percent. Demand for others and electrical machinery products rose by 40.3 percent and 9.1 percent, respectively.

On a monthly basis, export orders declined 4.8 percent in May.

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