PESSIMISTIC OUTLOOK:A Ministry of Finance official said buyers worried about the global slowdown and dropping oil prices are not interested in building up inventories
Date: Feb 17, 2016
By: Crystal Hsu / Staff reporter
Exports contracted 13 percent year-on-year to US$22.2 billion last month, as clients from across the world remained conservative about building inventory amid global economic uncertainty, the Ministry of Finance said yesterday.
Outbound shipments declined for the 12th consecutive month and would stay in negative territory until knockout technological innovations appear on the horizon to boost manufacturers, officials said.
“Trading partners worldwide are shying away from active inventory-building on lingering concerns over the global slowdown and the oil price rout,” Department of Statistics Director-General Yeh Maan-tzwu (葉滿足) told reporters. [FULL STORY]