Taiwan’s export orders declined dramatically in July as a result of decreased demand from Chinese customers, and officials are already predicting additional declines.
According to the Taiwan Ministry of Economic Affairs, orders fell 1.9% last month compared to the same month in 2021, whereas the average forecast predicted a 6.2% increase.
According to the ministry’s data, the main reason for this decrease was a 22.6% decrease in demand from China and Hong Kong.
Furthermore, while demand from the United States increased by 6.9%, it was inadequate to offset the loss.
China and Hong Kong are the second largest source of demand for Taiwanese exports after the United States.
Will the United States make up for China’s falling demand for Taiwanese exports?
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