Taiwan Export Orders Fall in 2022 for First Time in Three Years

Taiwan’s export orders fell last year for the first time since 2019, with a steep decline in December that suggests more concern ahead for the trade-dependent economy in 2023.

Overseas orders to Taiwanese firms fell 23.2% in December from a year earlier to $52.2 billion, according to a statement from the Ministry of Economic Affairs on Tuesday. That was slightly better than the median expectation of a 25% drop in a Bloomberg survey of economists, though barely an improvement over November’s 23.4% plunge.