SLUMPING DEMAND: Slowing growth in the high-end smartphone segment was a main driver of the decline and the economic ministry advised firms to explore African markets

Taipei Times
Date: Jan 22, 2019
By: Ted Chen  /  Staff reporter

Export orders last month fell 10.5 percent annually to US$43.38 billion, marking the steepest monthly decline in 32 months as slowing global economic growth and trade tensions took a heavy toll on external demand, the Ministry of Economic Affairs said yesterday.

On a monthly basis, orders declined 9 percent, accelerating from a 2.7 percent fall in November, the ministry said.

Overall, aggregate export orders in the past year still rose 3.9 percent to US$511.82 billion to set a new high, the ministry said.

The decline in orders last month was primarily driven by tepid demand for high-end smartphones and cryptocurrency mining equipment, which sent shocks across the local technology and electronics industry, Department of Statistics Director-General Lin Lee-jen (林麗貞) told a news conference in Taipei.    [FULL  STORY]