Nov export orders 23.4 yy vs 11.2 poll forecast
Export orders from China 37.3 yy vs 26.7 in Oct
Ministry sees Dec orders between 27.8 and 30.8 yy
Outlook clouded by China39;s COVID19 surge

TAIPEI, Dec 20 Reuters Taiwan39;s export orders contracted at the worst rate in more than a decade in November, hit by a plunge in China demand and generally weaker global consumer spending because of inflation and interest rate hikes.

The island39;s export orders last month, a bellwether for global technology demand, were 23.4 lower than a year earlier at 50.14 billion, the Ministry of Economic Affairs said on Tuesday. That was higher than analysts39; expectations of an 11.2 decline.

November39;s drop the steepest since March 2009, when the fall was 24.3 followed October39;s annual contraction of 6.3. November was the third month to show an annual drop.

Orders for telecoms products plummeted 30.5 from a year earlier because of weaker consumer demand especially in China because of COVID controls, but also came off a high base, the ministry said.

Orders for electronic products fell 15.2, though the decline was offset by demand for chips for highperformance computing, 5G and automobiles, it added.

While semiconductor demand and stockpiling ahead of January39;s Lunar New Year holiday in East Asia would help orders, there were also big uncertainties ahead, including the rapid spread of COVID19 in China after the country lifted controls, it added.

The ministry added that it…