TAIPEI (Reuters) – Taiwan’s December exports posted a fourth straight fall as global economic conditions worsened. The decline fell in March as rising inflation and interest rates weighed on demand, while gains from China’s easing of COVID-19 controls were still to be seen.
Export drop . to $11.16 billion, minimum , the Treasury Department said on Saturday.
followed by
.1% down Nov, slightly better Prediction from Reuters poll of .3% Shrinkage.
In December, the ministry said that global demand is gradually slowing down due to inflationary pressures and rising interest rates in major economies, as well as deposit reserve upgrades in Chinese factory production during the COVID-19 Cases after Beijing canceled its zero COVID regime.
The ministry sees Taiwan’s exports continuing to decline in the first quarter as it expects a “significant slowdown” in the global economy, the Ukraine war and the spread of COVID create significant uncertainty – in China.
The ministry said in a statement: “Positive demand from rising silicon content in new technologies and end products will not be able to offset these negative effects. .”
Taiwan’s total exports of electronic components in December fell 1.4% to $
. billion, semiconductor exports increased by 0.8% year-on-year. Companies such as TSMC, the world’s largest foundry chip manufacturer, are major suppliers to Apple (NASDAQ: 200AAPL) and other global tech giants, as well as suppliers of chips for car companies and low-end consumer goods.
in $. 100 million yuan in December Exports from the largest trading partner, the mainland, have declined .4% more than a year ago, in suffer November .
Risks ahead include uncertainty over the US-China tech war, Taiwan’s finance ministry said, adding that exports may contract in January % arrive10% YoY.
Exports in the fourth quarter – traditionally the peak season before Christmas – fell 8.6 percent year-on-year, the Finance Ministry’s Cai said.
Exports to the U.S. fell 2.6% in December, in line with
compared to.3% shrinkage recorded last month.
Taiwan’s imports fell in December, often seen as a leading indicator of re-exports of manufactured goods