Jan. 21 (Bloomberg) -- Taiwan’s export orders climbed for a fourth month in December, signaling the economy’s recovery is gaining traction amid stronger demand from the U.S. and China.
Orders, an indicator of shipments in the next one to three months, rose 8.5 percent from a year earlier after an 11.1 percent gain reported earlier for November, the Ministry of Economic Affairs said in Taipei today. The median of 13 estimates in a Bloomberg News survey was 10 percent.
The export-dependent economy is showing signs of rebounding as growth in China, its largest trading partner, accelerated for the first time in two years last quarter and retail sales in the U.S. gained more than forecast in December. Overseas shipments from the island rose more than economists expected last month.
“Taiwan will benefit from the recovery of China and the U.S. consumer market,” Raymond Yeung, a Hong Kong-based senior economist at Australia & New Zealand Banking Group Ltd., said before the report. “The electronics industry remains very resilient,” he said, adding that European demand has stabilized.
Orders from China rose 2.4 percent in December from a year earlier, while those from the U.S. climbed 10 percent and Europe gained 25.1 percent. Electronics advanced 3.8 percent, and information and communication products rose 18.1 percent.
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