Taiwan’s export orders grew by 1.3% year-on-year to over US$38.4 billion in March. That’s the word from the economics ministry on Monday.
The ministry said that the growth mainly came from global demand for electronics, communications devices, and machinery.
However, orders fell for precision equipment, base metals, and plastic and chemical products. That’s because competitors from China have been offering lower prices on their products, especially in the LCD industry. Experts also say that China’s decision to cut its reserve-requirement ratio could further boost Chinese companies’ competitiveness.
But the ministry also said that if the Chinese economy continues to improve, Taiwanese companies could also benefit from stronger demand.