Taiwan’s export decline in the first seven months of the year was the largest among the four Asian dragons, a government agency said yesterday.
However, conditions were expected to improve by the fourth quarter, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said in a statement.
In comparing the sagging exports among Taiwan, Hong Kong, South Korea and Singapore, the situation in Taiwan was the worst with a fall of 32.8 percent between January and July, the agency said.
Export decline in Hong Kong in this period stood at just 17.2 percent, followed by South Korea’s 22.5 percent and Singapore’s 31 percent.
The decline in exports from China also slipped by 22 percent in the first seven months, while that of the US dropped by 24 percent, the agency said.
DGBAS said Taiwan’s failure to establish its own brand name products in the electronics and communications sectors was the major reason for its higher decline level.
The agency said when countries such as the US and South Korea, which produce their own brand name products, face a sharp reduction in demand, they first deal with their production capacity problem at home instead of placing orders in Taiwan or elsewhere.
But with the gradual recovery in the global economy, Taiwan was expected to see positive growth at an estimated 13.1 percent of its exports by the fourth quarter, it said.
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