Taiwan Bucks Global Slump With Record Surge in Export Orders

Taiwan Bucks Global Slump With Record Surge in Export Orders
Bloomberg
1/20/2021
Samson Ellis and Chris Horton
(Bloomberg) -- Taiwan’s exporters defied a global slowdown to post record orders in 2020, fueled by rising demand for chips and smartphones.
Export orders climbed 10.1% last year to $533.7 billion, an all-time high, according to data from Taiwan’s Ministry of Economic Affairs. Orders surged 38.3% in December from a year earlier, the fastest pace since March 2010, to reach a new monthly record of $60.6 billion.
© Bloomberg
Taiwan export orders increase at fastest pace since 2010
Officials see the strong growth continuing into the new year, forecasting January orders to rise between 44.5% and 48.7%. The Lunar New Year holiday falling in February this year will not affect January’s numbers, Huang Yu-lin, director of the ministry’s statistics department, said at a briefing Wednesday.

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