Taiwan export orders cross forecast in Apr

TAIPEI, May 21 (Reuters): Taiwan's export orders growth beat forecasts in April, as the island's technology sector recovered from a weak first quarter for the industry.

Orders for the trade-reliant economy rose 9.8 per cent to $39.1 billion from the same period a year earlier, data from the Ministry of Economic Affairs showed on Monday. That was stronger than more modest growth of 3.1 per cent in March and higher than the median forecast of 8.85 per cent growth for April in a Reuters poll.

The overall on-year growth was driven by a 12.1 per cent increase in electronics orders and an 18.6 per cent increase in machinery orders. However, information and communications products declined 0.3 per cent.

The ministry said in a statement orders for information and communications products were hit by "the weak season for smartphones and computers, and weak market demand".

From the previous month, export orders declined 7.7 per cent. Looking to May, the ministry said it projects the on-month change in value of export orders to range between a 0.3 per cent contraction to 2.3 per cent growth.