TRADITIONAL INDUSTRIES: Falling raw material prices and declining investment in machinery contributed to the fall in orders, the Ministry of Economic Affairs said
Taipei Times
Date: Nov 21, 2019
By: Natasha Li / Staff reporter
Export orders last month contracted for a 12th straight month, slipping 3.5 percent year-on-year to
Deputy Minister of Economic Affairs Wang Mei-hua, right, speaks at a meeting of the Legislative Yuan’s Finance Committee in Taipei yesterday regarding amendments to the Customs Import Tariff Act, as Minister of Finance Su Jain-rong looks on.
Photo: Lo Pei-teh, Taipei Times
“Traditional industries are the ones that have suffered most from the trade conflict between the US and China,” Department of Statistics Director Huang Yu-ling (黃于玲) told a news conference in Taipei.
Huang pointed to plunging raw material prices and declining investment in machinery as reasons behind the disappointing performance.
Orders for machinery equipment contracted 10.3 percent year-on-year to US$1.65 billion last month , while orders for base metal products decreased 14.8 percent to US$2.1 billion, ministry data showed.
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