Taiwan’s exports are expected to have grown for the first time in more than a year last month, after declining for 13 consecutive months, the Ministry of Finance said yesterday.
Last month’s figures for export volume are scheduled to be released tomorrow.
In October, export volume was valued at US$19.82 billion, the highest level recorded over the past year since the outbreak of the global financial crisis.
While the amount of exports in October still marked a contraction of 4.7 percent compared with the same month last year, it nevertheless was the first single-digit decline recorded so far this year.
Lin Lee-jen (林麗貞), chief of the ministry’s Department of Statistics, said that as the decline in exports has continued to narrow, last month is a crucial month to watch to see if Taiwan’s exports have successfully emerged from the downturn.
Driven by seasonal demand and a recovery, albeit small in Taiwan’s major export markets including the US, Europe and Japan, the country’s exports are expected to have further increased to US$20 billion last month, Lin said.
She added that exports could even have posted positive year-on-year growth — probably by double digits — last month.
The growth is likely to significantly expand this month, she predicted.
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