TAIPEI: Taiwan<\/a>'s export orders grew faster than expected in March, setting a new high for the month bolstered by sustained technology demand, but the government warned of much slower growth for April on the Ukraine war and supply bottlenecks.
Taiwan's export orders, a bellwether of global technology demand, rose 16.8% from a year earlier to $62.69 billion last month, data from the Ministry of Economic Affairs<\/a> showed on Wednesday, the highest figure for the month on record.
It marked the 25th straight month of expansion, with the pace outperforming the median forecast of 15.5% growth in a Reuters poll.
The first quarter, coming after the year-end holiday season in Western markets, is traditionally a slow one, but export orders rose 16.2% on-year, the ministry said.
In March, orders for telecommunications products<\/a> rose 23.3% on year and soared 31.7% for electronic products.
Growth has been supported by booming tech demand<\/a> as well as a global semiconductor shortage that has filled Taiwanese chip makers' order books.
However, the ministry said it expects export orders in April to expand only between 1% and 3.8% from a year earlier.
\"The ongoing war between Russia and Ukraine has pushed up global inflationary pressure, coupled with the continued spread of variant (COVID-19) viruses and supply chain bottlenecks and other uncertain factors, which may inhibit the growth of global trade,\" it said.
Still, the ministry said 5G, high-performance computing and automotive electronics would keep driving demand for semiconductors, helping export order momentum.
In February, export orders leapt 21.1% from a year earlier to $51.56 billion, far outperforming expectations.
Orders from the United States in March rose 18.9% from a year earlier, a slower rate of expansion compared with the 23.5% logged in February, while orders from China increased 9.1%, cooling from a gain of 17.6% the previous month.
China has put Shanghai under a tight lockdown since late March and neighbouring Kunshan has also tightened curbs to control the country's biggest COVID-19 outbreak since the coronavirus was discovered in late 2019 in the city of Wuhan.
Orders from Europe rose 20.1%, while those from Japan went up 3.8%.
Taiwanese companies such as Taiwan Semiconductor Manufacturing Co Ltd<\/a> (TSMC) are major suppliers to Apple Inc, Qualcomm Inc and other global tech firms.
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