The
China Post--Exports in May declined by
6.3 percent on a year-on-year basis, but was up by 2.2 percent compared to last
month, announced Department of Statistics Director Lin Lee-jen.
Compared
to last year, exports to six countries of the Association of Southeast Asian
Nations (ASEAN) increased by 4 percent in May. Exports to the Philippines
increased by 48.9 percent, and export to Singapore increased by 24 percent, due
to a higher demand for petroleum-based products in both countries.
Exports
to Japan also increased by 3.8 percent in May on a year-on-year basis, due to a
higher demand for information communication technology (ICT) products.
Compared
to last year, exports to Europe and the U.S. in May decreased by 12.3 percent and
13.4 percent, respectively, which was due to the declining demand for ICT
products in both economies.
In May,
exports to China and Hong Kong decreased by 10 percent compared to that of last
year. Specifically, exports of optical instruments to those areas decreased,
and according to Lin, the economic situation of related industries in China has
been gloomy for the past two years. Exports of chemical products decreased due
to declining oil prices as well as lackluster demand in China. Exports of ICT
products, however, increased by 23.2 percent.
The
department director stated that the decrease of exports to China is mainly
because of the dire global economic condition triggered by the European debt
crisis.
On a
month-on-month basis, exports to all regions increased in May (with exception
of Europe).
Commenting
on the exports of ICT products, Lin said that although exports of related
products decreased by US$11 million in May, the market of ICT products is
diverse. Exports of ICT products increased in Hong Kong, Japan, and Singapore
in May.
S.
Korean Exports Increase
South
Korean exports from January to May increased by 0.6 percent compared to that of
last year, while Taiwanese exportation decreased by 5 percent.
According
to Lin, this is because South Korea's export products are much more diverse.
“They export products like DRAMs, panels, cellphones, cars, and ships.”
The
department director stated that recent declines in exports are mainly due to
the global economic slowdown, which South Korea was also affected by; it had an
export decline from March to May. Furthermore, in May, Taiwanese and South
Korean exportation to the U.S., China, and Europe both declined by similar
percentages.
From
January to May, Taiwanese exportation to six ASEAN countries was US$22.48
billion — the highest amount in history. The percentage of exportation to six
ASEAN countries also increased to 18.4 percent, which was also a historical
high. Exports to Singapore showed a positive increase in May, while exports to
Philippines also increased in the same month.
Imports
of Capital Equipment Increase for Four Months
Imports
of capital equipment increased for four consecutive months. According to Lin,
this indicates an increase of private investment.
However,
on a year-on-year basis, import of capital equipment declined by 20.5 percent
because of the high level of importation last May.
Importation
declined in May by 10.5 percent on a year-on-year basis, due to decreasing oil
prices and decreasing demands for raw materials. Imports of electronic parts
and panels also declined in May, said Lin.
Prospects
for June
The
department director estimated that exportation in June would rise on a
year-on-year basis because of lower export levels last June and new products
announced by ICT and information technology companies.
Future
economic prospects, however, still depend largely on the European election
results, said Lin.
Camaron
Kao
The
China Post
Business & Investment Opportunities
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