Orders for Taiwanese exports plunged 25.7% year-on-year to USD 46.6 billion in March 2023, slipping further from an 18.3% drop in February and beating market forecasts of a 20% fall. It was the largest annual decline since January 2009 due to weaker demand for almost all product groups. Orders decreased mainly for electronics, such as semiconductors (-29.4%), telecom products (-26.3%), basic metals (-27.3%), plastic & rubbers (-34.2%), and machinery (-21.3%). On the other hand, they rose for mineral products by 14.2% but slowed from 28.1% growth previously. Among major trade partners, demand fell the most in Mainland & Hong Kong and Europe, down by 33.8% in each case. It also sank in the USA (-20.7%), ASEAN countries (-14%), and Japan (-5.3%).
source: Ministry of Economic Affairs, R.O.C.