World Economy

Taiwan Export Orders Fall

Taiwan Export Orders FallTaiwan Export Orders Fall

Taiwan’s export orders fell at more than double the expected rate in April, underscoring the difficulties faced by the country as it seeks to diversify away from dependence on shipments to China, FT online reported. Export orders dropped 11.1% year-on-year in April, substantially farther than economists’ consensus forecast of -4.5% and compared to a March reading of -4.7%. The latest reading marked the 13th month of contraction for orders. With the exception of 9% growth in orders from Singapore, every major trading partner saw orders fall in April, most of them reaching double digits. Worst hit were export orders from Japan, which fell 24.3% year-on-year.