Taiwan: foreign demand grows 13.4 percent in November

Taipei, December 20 11:53 – (Nova Agency) Taiwan saw an expansion in foreign demand in November, a period in which orders increased 13.4 percent from 2020 to $65.5 billion. This was revealed by the Ministry of Economic Affairs in Taipei, which reports that this is the highest number ever recorded. The financial authority attributes the data to the partial stability of the supply chain combined with the strong demand for electronic devices typical of the holiday season, factors that will be the driving force for economic growth through the end of 2021. By that date, the ministry believes that orders will increase between 24.9 and 25.2 in cent compared to 2020. The optimism was tempered in part by the director of the ministry’s statistics bureau, Huang Yuling, as the COVID-19 pandemic and future bottlenecks in the supply chain pose a series of “doubts” about economic growth in 2022. In November, China emerged as one of the Major buyers of Taiwanese goods, with an increase in orders of 25.3 percent. Demand from the US is also on the rise, with an expansion of 10.8 percent. In contrast, Europe reduced its demand by 2 per cent.

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