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MNI BRIEF: Taiwan's Exports Drop Sharply In November

MNI (BEIJING)
MNI (Beijing)

Taiwan exports fell 13.1% y/y in November to USD36.1 billion, marking the third consecutive month of decline, according to the Ministry of Finance on Wednesday.

Demand from the Chinese Mainland and Hong Kong dropped 20.9%, with every key region contracting except for Japan, which grew 15%.

Electronic products, information & communication products, and base metals declined by 4.9%, 5.4%, and 28.3% respectively.

The Central Bank of the Republic of China had warned exports could slow due to weakening external demand at its most recent monetary policy meeting.

Imports fell by 8.6% from a year earlier to US$ 32.70 billion, a sharp decline from the 8.2% increase reported for October. The trade balance for the first eleven months of 2022 stood at USD 47.1 billion, a decline of 19.6% compared to the same period last year.

MNI Beijing Bureau | lewis.porylo@marketnews.com
DataPolicy NewsAPACBriefStoryRegion
MNI Beijing Bureau | lewis.porylo@marketnews.com
DataPolicy NewsAPACBriefStoryRegion

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