Tue, Jul 16, 2013 - Page 14 News List

Taiwanese exports may recover before South Korea’s: ANZ

Staff writer, with CNA

Taiwan’s exports are expected to recover sooner than South Korea’s, given the resilience of the nation’s semiconductor exports, Australia and New Zealand Banking Group Ltd (ANZ) said in a recent research note.

Since semiconductors account for a larger proportion of Taiwan’s total exports than South Korea’s and the sector’s resilience should last for the rest of the year, or even for three more quarters, Taiwan’s exports should recover sooner, the bank said, saying that South Korea is more reliant on smartphone exports.

As a major global manufacturer of PCs, Taiwan can also benefit from the upward trend in computer products, the bank said.

ANZ said that during recent visits to Taiwanese manufacturers, it also received some optimistic responses from them regarding the economic outlook for the second half of the year.

The bank said Taiwan and South Korea could take advantage of the recent depreciation of the yen and seek to increase investment through cheaper imports and technological cooperation.

Last week, the Ministry of Economic Affairs said exports in the third quarter could continue to rise steadily, given the high season effect, and the rebound of exports of plastic and chemical products.

Exports last month rose 8.6 percent from a year earlier and 0.5 percent from May to US$26.48 billion, the Ministry of Finance reported last week.

For the first half of the year, exports totaled US$150.48 billion, up 2.4 percent from the same period last year, the finance ministry said.

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