Taiwan’s export orders rise in May to monthly high

Taiwan’s export orders rose 6.8% month-over-month in May to reach US$55.43 billion, a record high for the month. That’s according to data released by the economics ministry on Monday. Officials said the rise was due to China’s easing lockdowns and improvements in global supply chain problems. Looking ahead, officials see orders rising again in June, to hit between NT$55.5 billion and NT$57 billion. Export orders in the second quarter are expected to increase 1.2% to 2.1% year-on-year. However, experts are warning of global uncertainties up ahead. They say that rising U.S. interest rates may weaken consumer demand and dampen Taiwan’s export performance.