The chairman of the Taiwan External Trade Development Council (TAITRA) predicted yesterday that based on an improvement in Taiwan’s poor export figures for January and last month, an economic spring would arrive next year.
“The swallows will surely come back as early as next year, and we should see exports pick up by the end of this year,” TAITRA chairman Wang Chih-kang (王志剛) said at the opening of a conference involving overseas economic and business personnel of TAITRA and the Ministry of Economic Affairs (MOEA) to discuss the global economic crisis.
Noting that the contraction of exports has slightly improved from January’s minus 44 percent to last month’s minus 28 percent, while exports to China have also improved from January’s minus 58 percent to last month’s minus 26 percent, Wang said the difference between the two months should be taken seriously and rationally.
The TAITRA chairman said exports improved slightly last month and that there should be more improvement this month, and even more next month.
Stressing the importance of exports, Wang said that Taiwan’s economic lifeline depended on its exports because when they grow, it can activate a chain effect that includes increasing companies’ willingness to invest and hire more employees, resolving the problem of rising unemployment and stimulating consumption and the government’s public spending.
“Without exports, Taiwan’s GDP growth will definitely be negative,” he said.
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