Taiwan Export Orders, Industrial Production Index Down in May

Export orders and the industrial production index showed unusual year-on-year decline of 13.96 percent and 5.29 percent in May, reported Taiwan's local media Friday.

Export orders totaled 11.5 billion U.S. dollars, down 1.87 billion U.S. dollars or 13.96 percent from the same time last year, according to Taiwan authorities' figure. Barring seasonal factors, the decline was the largest since 1981.

Among export items, all but machinery products recorded a decrease from the same time last year. Major export destinations also showed an overall decline. For example, exports to the United States declined by 15.34 percent, exports to Hong Kong dropped by 9.07 percent, exports to Japan down by 14.4 percent, exports to Europe dropped by 25.13 percent.

Meanwhile, the industrial production index fell for the third consecutive month since March, including the manufacturing sector which was down by 9.91 percent.

The industrial industry index was down 8.2 percent from the same time last year. It is estimated that the industrial production index in the first five months was down 5.29 percent from the same period of last year.

People's Daily Online --- http://english.peopledaily.com.cn/