Taiwan's July exports plunge 11.6%

Shrinking overseas demand for information technology and telecom products led to a year-on-year decline of 11.6 percent in Taiwan's export in July, the government said Tuesday.

The $24.9 billion fall was a fifth consecutive monthly drop in the island's exports. It was led by a 20.0 percent fall in exports to the United States, the finance ministry said in a statement.

Shipments to Europe declined 14.4 percent while those to China, the island's biggest overseas market, were down 11.0 percent, it said.

The weak demand for Taiwan's telecom items was reflected in leading smartphone maker HTC's worse-than-expected 45 percent slump in July sales from the previous year, according to sales figures released by the company.

The island's export totaled $171.65 billion in the seven months to July, down 5.8 percent from a year ago.

Taiwan's trade-reliant economy has shown signs of weakness in recent months due to falling demand from its key markets China, Japan and the United States.

The economy dropped 0.16 percent in the second quarter of 2012, the first quarterly contraction since 2009, according to the government.

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • What can void a new car warranty? James Deakin - Wheel Power
    What can void a new car warranty?

    "I was denied warranty once for changing my horn!" One very annoyed reader wrote. "I was told that placing a backup camera will void my warranty" said another. The others are best left in my private inbox as Yahoo! have a swear jar in the office that I do not feel like donating this week's pay to. Continue reading → …

  • Docu exposes destruction of PH marine resources VERA Files - The Inbox
    Docu exposes destruction of PH marine resources

    By Kiersnerr Gerwin B. Tacadena, VERA Files “Gutom (hunger),” Sen. Loren Legarda said is what’s in store for the Filipino people if destruction of the country's marine resources is not stopped. Legarda, chair of the Senate committee on Environment and Natural … Continue reading → …

  • ‘Yolanda’ fiberglass boats modern-day Noah’s ark VERA Files - The Inbox
    ‘Yolanda’ fiberglass boats modern-day Noah’s ark

    By Jane Dasal, VERA Files If you want to save the earth, build a boat. That's what a group of environmentalists is saying, especially if you want to save both the forests and fishermen affected by supertyphoon “Yolanda” (Haiyan). “Haiyan … Continue reading → …

POLL
Loading...
Poll Choice Options