HARD TARGET: An official said exports would likely continue to shrink this month and it would be very difficult to meet a forecast of 6.2 percent year-on-year growth

Taipei Times
Date: Dec 08, 2018
By: Ted Chen  /  Staff reporter

The nation’s exports last month contracted by 5.9 percent monthly and 3.4 percent annually to US$27.81 billion, halting a 24-month streak of consecutive growth as the effects of an ongoing US-China trade dispute begin to materialize, the Ministry of Finance said yesterday.

The unexpected decline was also attributed to a high base of comparison last year, as well as slowing external demand for machinery and lackluster market reception for Apple Inc’s new trio of iPhones, Department of Statistics Director-General Beatrice Tsai (蔡美娜) told a news conference in Taipei.

“Up until October, companies in most industries had been optimistic about the trade dispute, with some even expecting to benefit as customers divert orders away from China-based manufacturers,” Tsai said, adding that the ministry has detected a drastic shift in sentiment over the past month.

“Many companies have begun bracing for the effects on demand and consumption, even bellwethers such as Taiwan Semiconductor Manufacturing Co (TSMC, 台積電),” Tsai said.    [FULL  STORY]