Taiwan's export orders in March were better than expectations on robust US orders, offsetting concerns that appetite for the island's electronic gadgets had been seriously affected by the slowdown in the global economy. The upbeat figures also helped to dispel worries about slowing demand from its largest trading partner, China, which over the weekend took bold steps to stimulate economic growth.
Taiwan's orders in March rose 1.3 percent from a year earlier to a two-month high of $38.4 billion. It beat a Reuters poll for 0.6 percent growth and outperformed February's 2.7 percent drop, which was the first decline in more than a year. US orders in March leapt 16.7 percent from a year ago, outpacing February's 9.1 percent gain. Orders from China fell 3.8 percent, narrowing from February's 8.1 percent fall.
"What we see is that exports - by destination, US, by product, electronics - are holding up well in Taiwan," said Tim Condon, economist with ING in Singapore. "But this is a micro-theme." Condon said the broader export trend for Taiwan was still on the low growth side. Taiwan's export orders are a leading indicator of demand for Asia's exports and for hi-tech gadgets, and typically lead actual exports by two to three months.
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