The Ministry of Finance said yesterday that Taiwan’s exports in the second half of this year are expected to reach US$141 billion, up nearly 7 percent from the first six months, citing factors such as the approaching Christmas shopping season and a strong economic recovery in emerging Asian markets.
Exports for the full year are expected to grow by about 34 percent year-on-year, according to the ministry.
Exports in the first half of this year totaled US$131.98 billion, the second-highest first half-year figure ever recorded in Taiwan, representing 49 percent growth from last year.
A record high of US$56.75 billion in goods was shipped to China and Hong Kong in the six-month period.
Overall imports for the first half of this year reached US$119.88 billion, up about 65 percent from the same period last year. Both capital equipment and consumer products imports recorded historic highs, showing that local investment and consumption are improving, according to the ministry’s statistics department.
In the month of May, Taiwan’s exports reached a record monthly high of US$25.5 billion, recovering from a global economic slump that had pushed local exports down to US$12.4 billion in January last year.
Asked if the European debt crisis had impacted Taiwan’s exports, the ministry said that as exports to Europe only accounted for 10 percent of overall exports, the crisis would not have much impact on Taiwan in the short term.
However, the impact may still need to be watched as expenditure cuts among European countries would likely dampen their consumption, the ministry said.
Compared with the first six month period in 2008 — which was before the global economic crisis — exports to European countries in the first half of this year dropped 11.4 percent.
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