By: Huang Chiao-wen and Frances Huang
Taipei, Sept. 19 (CNA) The Ministry of Economic Affairs (MOEA) is likely to report a year-on-year decline in export orders for August, the fifth such drop, due mainly to the continued weakness of international crude oil prices, ministry sources said Saturday.
In addition, the August figure is expected to be affected by a relatively high comparison base in the same month of last year, the sources said.
In July, Taiwan’s export orders declined 5 percent from a year earlier to US$36.29 billion as lower crude oil prices continued to depress petrochemical product prices and the growth of the global economy remained fragile.
Taiwan’s export orders totaled US$253.33 billion in the first seven months of 2015, down 2.1 percent year-on-year. [FULL STORY]