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Taiwan: Export orders fell in April for the first time since 2020

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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