Wednesday, December 14, 2011

Taiwan’s exports continued to decline in November

* According to figures released by the Ministry of Finance (MOF), Taiwan's exports came in at US$24.68 billion in November, which amounted to a decline of 8.7 percent from October.

* Imports were US$21.47 billion last month, which was a decline of 10.4 percent year-on-year and 9.4 percent month-on-month. These figures translated into a trade surplus of just US$3.2 billion for November, which was markedly lower than expected.

* Many expect the most difficult period for Taiwan’s exporters to be the first quarter of next year. The key, in turn, to whether things will get better include: (1) if the European sovereign debt crisis can get resolved, and (2) US economic recovery gets additional boost, particularly in the job and housing markets.

* If international circumstances do not improve, the adverse impact on the island’s economy, particularly exports, could last well into mid-year 2012.

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