Taiwan�s 2015 exports fall most since 2009

AFP, TAIPEI: Taiwan's exports in 2015 fell by a tenth compared to a year ago, the largest annual decline since 2009, largely on weak international demand, the government said Friday. Shipments last year totalled $280.5 billion, down 10.6 percent from 2014 -- the steepest fall since 2009 when the export sector, the major engine of the economy, saw shipments plummet 20.3 percent following a global financial crisis. "Shipments to the main markets abroad all fell last year," the finance ministry said in a statement. "As global demand weakened, all countries were impacted negatively." The release of the gloomy figures comes with presidential and parliamentary elections due January 16, and Taiwan's sluggish economy among voters' key complaints. Taiwanese authorities in November cut economic growth forecast for 2015 to 1.06 percent while also lowering expectations for next year to 2.32 percent growth. Sales to China, the island's leading market, in particular shrank 12.3 percent from the previous year as the mainland economy slowed, according to the finance ministry. Shipments to the six-member Association of South East Asian Nations as well as Europe declined 14.6 and 11.0 percent respectively.

Taiwan�s 2015 exports fall most since 2009

AFP, TAIPEI: Taiwans exports in 2015 fell by a tenth compared to a year ago, the largest annual decline since 2009, largely on weak international demand, the government said Friday. Shipments last year totalled $280.5 billion, down 10.6 percent from 2014 -- the steepest fall since 2009 when the export sector, the major engine of the economy, saw shipments plummet 20.3 percent following a global financial crisis. Shipments to the main markets abroad all fell last year, the finance ministry said in a statement. As global demand weakened, all countries were impacted negatively. The release of the gloomy figures comes with presidential and parliamentary elections due January 16, and Taiwans sluggish economy among voters key complaints. Taiwanese authorities in November cut economic growth forecast for 2015 to 1.06 percent while also lowering expectations for next year to 2.32 percent growth. Sales to China, the islands leading market, in particular shrank 12.3 percent from the previous year as the mainland economy slowed, according to the finance ministry. Shipments to the six-member Association of South East Asian Nations as well as Europe declined 14.6 and 11.0 percent respectively.