FEEBLE:Without diversification of exports, the downward spiral in technology hardware sales looks set to drag on the economy for a record period, experts said
Date: Mar 08, 2016
By: Crystal Hsu / Staff reporter
Exports declined 11.8 percent year-on-year to US$17.78 billion last month, shrinking for 13 consecutive months, as demand for all product categories remained weak from trading partners around the world, the Ministry of Finance said yesterday.
The contraction is poised to outlive the record during the global financial crisis that sank exports in negative territory for 14 straight months, but this time due to the shifting focus from hardware to software competition, of which local exporters failed to take advantage.
“The world’s growth momentum remained feeble thus far, weighing on exports last month,” Department of Statistics Director-General Yeh Maan-tzwu (葉滿足) told a news conference. [FULL STORY]