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Taiwan's Export Rebounded Vigorously in The First Half of September

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Core prompt: Following six months of consecutive decline,Taiwan's export rebounded vigorously in the first half of September,with growth rate exceeding 10%,reported Shih Yien-shiang,minister of econ

Following six months of consecutive decline,Taiwan's export rebounded vigorously in the first half of September,with growth rate exceeding 10%,reported Shih Yien-shiang,minister of economics yesterday(Sept.24).

Meanwhile,the Ministry of Economic Affairs(MOEA)stated that Taiwan's industrial output index climbed,for the second month in a row,to 136.6 in August,the second highest ever,underscoring sign for the bottoming out of the economy.

The MOEA also publicized that the manufacturing output index stood at 139.43 in August,up 1.8%year-on-year,the first positive growth for the index since last November,after excluding the factor of the Chinese Lunar New Year.

The ministry stressed that October is the critical month to ascertain the bottoming out of the economy.Yang Kui-hsien,deputy chief statistician of the MOEA,noted that October is a busy season traditionally and if its production momentum is stronger than September,one can ascertain that the economy is trending upward.

The MOEA further pointed out that in August,production index of the electronic components and parts industry hit new high,thanks to the launch of new hi-tech products,including smart phones and tablet PCs.As a result,related components and parts industries all scored double-digit growth,including 10.83%for contract IC production,11.12%for FPD(flat panel display),and 18.56%for IC packaging.

An official of the Bureau of Foreign Trade,the MOEA,confirmed that Taiwan's export in September will score positive growth.However,since export in the first eight months this year declined 5.6%year-on-year,export for the whole year is unlikely to register positive growth,which will require double-digit growth for export in the remaining four months.

Taiwan's export began to decline in March this year,with the declining rate reaching 11.6%in July and 4.2%in August before achieving double-digit growth in the first half of September.One major factor for the turnaround in September is rebound in the export of electronic products,which already scored positive growth in August.

An MOEA official remarked that export of electronic products,a mainstream export item,is closely associated with the development of the global economy.As a result,when the international economy declines,Taiwan's export will drop,one step ahead of neighboring Asian countries,and when the global economy picks up,Taiwan's export will also rebound instantly.

 
keywords: Taiwan, export, MOEA
 
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