TRADITIONAL INDUSTRIES: Falling raw material prices and declining investment in machinery contributed to the fall in orders, the Ministry of Economic Affairs said
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 toUS$47.28 billion, the Ministry of Economic Affairs said yesterday, as traditional industries saw orders falter.
“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.