U.S.-China trade war played part in sudden drop: MOF
By: Matthew Strong, Taiwan News, Staff Writer
Taiwan’s exports end 24 consecutive monthly increases. (By Central News Agency)
TAIPEI (Taiwan News) – Taiwan’s exports ended 24 consecutive months of increases by recording a drop of 3.4 percent for November, the government announced Friday.
The Ministry of Finance (MOF) identified lower-than-expected sales of high-end smartphones, a weakening of overseas investment needs, and the impact of the trade war between the United States and China as the three reasons why exports fell in November compared to the same period last year, the Apple Daily reported.
The value of exports for November totaled US$27.81 billion (NT$858.78 billion), a drop of 3.4 percent compared to November 2017 and of 5.9 percent compared to October 2018, according to MOF data.
However, for the period from January to November 2018, exports still rose from the same period last year to reach a total of US$307.46 billion (NT$9.49 trillion), the MOF stated Friday. [FULL STORY]