TAIPEI, (Taiwan Today) – Taiwan’s June export orders increased 3.1 percent year on year to US$45.56 billion, according to the Ministry of Economic Affairs (MOEA) July 22, 2024.
Among the country’s main export sectors, information and communication technology product orders rose 3.6 percent to NT$12.74 billion while electronics soared 6.3 percent to NT$15.54 billion. The MOEA attributed the strong showings to increased demand for artificial intelligence, cloud and high-performance computing and other emerging technology applications.
Equally impressive were orders for chemicals, up 9.5 percent to US$1.6 billion, showing the highest growth due to rising international oil prices, the MOEA said. Other sectors including basic metals, machinery, optoelectronics, plastic and rubber products all reported a gain of 2.5, 3.4, 5.8 and 2.7 percent, respectively.
Taiwan’s top source of orders remained the US, up 3.7 percent to US$14.79 billion. This was followed by China and Hong Kong, up 3.5 percent to US$10.25 billion; the Association of Southeast Asian Nations member states, up 0.2 percent to US$6.82 billion; and Europe, up 6.3 percent to US$6.54 billion.
The MOEA remains optimistic about the outlook even though challenges such as global high interest rates, US-China trade friction and geopolitical risks might slow down growth in international trade, the ministry said, adding that the demand for the country’s semiconductors and servers is booming, and consumer electronics products are also entering the second half of the year peak season.
In addition, the MOEA formulated a series of measures this year to further boost export orders. These include: diversifying export markets, attracting more overseas enterprises to make business match visits, hosting international events to promote local products, increasing the scale of export loans and integrating various sectors to jointly tap emerging markets.
The ministry is committed to developing the five trusted industry sectors, namely AI, military, semiconductors, security and surveillance as well as next-generation communications. These were all noted by president Lai Ching-te in his inauguration speech, and he further pledged to enhance digital and net-zero transformation to boost green and inclusive economic growth, it added.
Taiwan FDI statistics summary analysis (June 2024)
According to the statistics, 1,060 foreign direct investment (FDI) projects with a total amount of US$3,252,585,000 were approved from January to June 2024. This indicates a decrease of 5.53 percent in the number of cases, and a decrease of 49.30 percent in FDI amount compared to the same period of 2023.
With regard to inward investment from Mainland China, 20 cases were approved with an amount of US$16,366,000 from January to June 2024. This indicates an increase of 42.86 percent in the number of cases, but a decrease of 1.74 percent in the FDI amount compared to the same period of 2023. From July 2009 to June 2024, 1,606 cases were approved with a total investment amount added up to US$2,612,312,000.
In terms of Taiwan’s outbound investment (excluding Mainland China), 344 projects were registered from January to June 2024 with a total amount of US$24,185,830,000, indicating an increase of 38.15 percent in the number of cases, and an increase of 169.64 percent in the amount, as compared to the same period of 2023.
As for Taiwan’s outward investment to Mainland China, 176 applications have been approved from January to June 2024, indicating a decrease of 1.12 percent compared to the same period of 2023. The approved investment amount is US$1,546,765,000, 19.03 percent less than the same period in 2023.
