Taiwanese export orders fall in July

Taiwan's export orders fell for the fifth consecutive month in July, as the global economic slowdown has continued to weigh on the island's economy.

According to figures released Monday by the island's statistical authorities, export orders fell to $35.94 billion in July, marking a 4.4-percent slump from the same month last year.

Compared with June, export orders contracted by 1.2 percent.

Export orders, which track shipments for the following one to three months, act as a key barometer of overall economic health.

Beatrice Tsai, a representative for the island's statistical authorities, said a high base period and weak global demand caused the slump in July.

Among Taiwan's major export markets, orders from the Chinese mainland fell 5.5 percent from a year earlier to $9.12 billion in July. Orders from Japan fell 5.4 percent to 3.48 billion, while orders from Europe fell 4.7 percent to $6.2 billion.

However, orders from the United States and the Association of Southeast Asian Nations (ASEAN) countries rose 1.4 percent and 2.6 percent, respectively.

In the first seven months of the year, Taiwan's export orders totaled $248.69 billion, registering a 1.4 percent year-on-year decline.

Last Friday, the island's authorities cut their economic growth forecast for the year to 1.66 percent from a previous estimate of 2.08 percent.