Taiwan's export orders declined at a faster-than-expected pace in July, figures from the Ministry of Economic Affairs showed Thursday.
Export orders fell 5.0 percent year-over-year in July, exceeding economists' expectations for a 4.1 percent decline, but slower than the 5.8 percent decrease in June. It was the fourth consecutive monthly drop.
Orders for animal, vegetable products plunged 25.4 percent in July from a year ago and that for basic metals and articles thereof dipped by 14.4 percent. At the same time, orders for prepared foodstuffs, beverages and tobacco products grew by 9.1 percent.
On a monthly basis, export orders dropped a seasonally adjusted 0.5 percent in July, faster than previous month's 0.1 percent slight fall.
In the January to July period, total export orders slid 2.1 percent compared with the corresponding period last year.
by RTT Staff Writer
