Taiwan: Exports decelerate as foreign demand for electronic products wanes
December 8, 2011
In November, exports expanded a subdued 1.3% over the same month last year to USD 24.7 billion, which was well below the 11.7% increase recorded in October, and marked the slowest expansion since November 2009. The monthly reading was also below market expectations, which had export growth easing to 8.6%. The reading reflects stronger growth in exports of mineral products and basic metals, which went some way to mitigating falls in electronic and plastic product exports caused by softening international demand. Imports fell 10.4% in November, which contrasted the 11.8% increase registered in October, and represents the first decrease since November 2009. The trade surplus thus narrowed from USD 3.3 billion in October to USD 3.2 billion in November.