By: George Liao, Taiwan News, Staff Writer
Taiwan’s exports contracted 6.5 percent year-on-year to US$22.25 billion in April, marking the 15th consecutive month and the longest period of decline since the financial crisis of 2008, the Ministry of Finance (MOF) announced on Monday.
Compared with the same month of last year, April’s exports to Europe grew by 10.4 percent; however, exports to Mainland China & Hong Kong, ASEAN, Japan and the U.S. declined 6.8 percent, 4.5 percent, 4.8 percent and 12.7 percent, respectively.
However, the decline slackened to single digit levels in April, putting an end to a spell of 10 consecutive months of double-digit decline, according to the MOF figures.
Minister of Finance Chang Sheng-ford said the return of global crude oil prices to stability had contributed positively to the lessening of the export decline. [FULL STORY]