While Taiwan's base metal exports increased in October, the annual decline continued

However, this increase could not compensate for the ongoing global economic slowdown, as export orders fell by 5.4% year-on-year to USD 1.99 billion. Export orders for base metals and base metal products rose in October after falling by 5.4% in September. This increase shows that the downward trend from September has reversed. However, the figures for the current year paint a worrying picture: In the January-October period, export orders fell by 23.9% compared to the same period in 2022 to a total of 20.88 billion dollars.

The decline in base metal exports is primarily attributed to the weakening global economy, which has reduced demand for steel and other metal products. The world’s major economies are grappling with rising inflation, interest rate increases and supply chain disruptions; This leads to a decrease in industrial activities and therefore a decrease in the demand for metals.