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Prospects of the negative cyclical factors exist in February
Both manufacturing and service sector surveys were cautious |
| Taiwan’s external sector continued to improve in February despite the reduced workdays and the Lunar New Year distortion. On a month-to-month basis, both imports and exports have faired worse than January with exports shrank by 16.2% and imports by 13.4%. On year-on-year basis however, trade in February saw a 16th month consecutive growth. The bullish YoY export growth was mainly fuelled by demands in electronic and communication products, which has propelled exports in February to grow by 27.3% YoY, or USD 4.56 billion. Import growth also remains burly, due to both recent capex cycle upturn as well as increase in commodity imports. Capital equipment imports grew by 31.2% while commodity imports grew by 27.7%. While both exports and imports value showed robust performances, the increase in import value has also reduced the size of trade surplus, with a 2.6% year-on-year growth in February, or USD 920 million. Cumulative trade data for both January and February saw record growth with imports and exports increased by 25.0%, and 21.3% respectively. Cumulative trade surplus for both January and February shrink saw a 17.3% decline YoY, or USD 2.81 billion, which was due to the surge of imports. As the world economy enters correction phase, trade figures for Taiwan is likely to moderate. ...Read more |
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| The Importers and Exporters Association of Taipei (IEAT) ranks Taiwan No.9 in trade competitiveness |
| According to the new report released by the IEAT, Taiwan ranks No.9 in terms of trade competitiveness. This is the first time Taiwan has been included in the report, which polls 42 of the world’s most important trade entities, IEAT said. Taiwan’s rank should move up further next year as the island continues to benefit from the signing of ECFA, which removes trade barriers on goods traded on both sides of the strait, said LU Hung-the, leader of the IEAT project. |
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| IMF: Taiwan’s GDP growth is 5.4% in 2011 |
| The International Monetary Fund (IMF) released its 2011 World Economic Outlook in April, which forecasts Taiwan’s GDP growth at 5.4% this year and 5.2% in 2012. In overall, the newly industrialised Asian economies GDP growth is expected to be 4.9% in average this year and 4.5% in average in 2012. However, IMF warns that the signs of overheating are starting to materialise in a number of economies and a spike in food prices may lead to increase in headline inflation in the recent months. Concerns that inflation pressure may induce authorities to tighten the policy stance more rapidly than previously planned may have contributed to recent declines in equity and bond markets. |
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Taiwan Economic Research Monthly
311 Japan Earthquake: Aftershock |
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311 Japan earthquake and its impact on global economy
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The impact on Taiwan’s macroeconomics post the Japan earthquake
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More opportunities for Taiwan and Japan industries’ cooperation in the long term after the quake
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What Taiwan learns from the Japan quake and tsunami to modify its energy policies?
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The impacts on Japan’s industrial development and environmental protection post its shocks
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