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Taiwan’s 2015 export orders represent worst drop in 6 years

by ChemOrbis Editorial Team -
  • 21/01/2016 (10:43)
According to media reports, data from Taiwan’s Ministry of Economic Affairs showed that the country’s export orders declined 12.3% on the year, posting the ninth consecutive decline and the largest drop seen since February 2013. For the full year of 2015, meanwhile, export orders fell 4.4%, posting the strongest annual decline since 2009, when export orders fell 8.33%. Total orders reached $451.8 billion in 2015 compared with $472.8 billion in 2014.

The December data also represented a stronger drop than Reuters economists’ expectations, which called for a decrease of 8%. The December loss in export orders also exceeded November’s decline of 6.3%.

The deeper than expected decrease in export orders was attributed to globally weak technology demand and a slowing Chinese economy, which suggests that weak growth momentum may remain in place in the fourth quarter. It also signals that weakness in global technology industry will remain.

According to some economists, Taiwan’s central bank may face pressure to lower its interest rates following the cuts in September and December as global demand remains stagnant and domestic demand is also weak.
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