SLOW TURNAROUND:Shipments to all but one of trading partner saw double-digit declines, but a slowdown in the decline last month signaled potential recovery
Date: Nov 10, 2015
By: Crystal Hsu / Staff reporter
Shipping container cranes stand unused at a port in Taiwan yesterday. Photo: CNA
The nation’s exports declined 11 percent year-on-year last month, down by double digits for five months running, but easing from a 14.6 percent fall in September, indicating a slow improvement in external demand, the Ministry of Finance said yesterday.
The results came in line with a market consensus that the global slowdown will continue to weigh on electronics shipments while price distortions caused by cheaper oil prices might not taper off until next year.
Exports, which account for 70 percent of GDP, dropped for the ninth consecutive month this year to NT$785.99 billion (U$23.94 billion) last month, the ministry’s report showed. [FULL STORY]