Taiwan’s export orders fell in April for the first time since 2020 as coronavirus lockdowns in China affected production capacity for large Taiwanese companies.
Orders fell 5.5% from a year earlier, to a much worse result than the 11.5% increase expected by economists.
This is the first drop in orders since February 2020, when the pandemic began, and the worst drop since January 2020, when orders fell 12.8% year-on-year.
The Taiwanese government warned a few weeks ago that the increase in orders is likely to slow between 1% -3.8% in April, but today the figures are even worse than the most ominous forecasts of economists.
Source: Capital
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