Mon, Jul 11, 2016 - Page 16 News List

Nation’s export hopes hinge on new gadgets, trade body says

Staff writer, with CNA

Taiwan will need successful launches of new electronic devices by international brands to stimulate global demand if it hopes to reverse its current export slowdown, the Bureau of Foreign Trade (BOFT) said on Friday.

It said that one of the most anticipated launches is of Apple Inc’s new iPhones in the second half of this year, which could help Taiwan’s exports because many domestic vendors are Apple suppliers.

These Apple suppliers, including Hon Hai Precision Industry Co (鴻海精密), the world’s largest contract electronics maker, account for about 40 percent of the total market capitalization of Taiwan’s stock market.

The bureau’s comments came after the nation reported that its exports last month fell 2.1 percent from a year earlier.

It was the 17th consecutive month in which exports fell, the longest export slump in the nation’s history.

However, last month’s fall was smaller than the 9.6 percent year-on-year decline seen in May.

In the first six months of this year, Taiwan’s outbound sales were down by 9.1 percent from a year earlier.

Citing Cheng Cheng-mount (鄭貞茂), head of the Taiwan-based Asia-Pacific Industrial Analysis Association, the bureau said Taiwan is also looking to other high-tech gadgets, such as virtual-reality devices and unmanned aerial vehicles, to boost electronics shipments in the second half.

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