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Exports down in December, higher in 2013 overall (update)

Exports down in December, higher in 2013 overall (update)

Taipei, Jan. 7 (CNA) Taiwan's exports fell slightly last December from the same month of the previous year, but were strong enough to allow exports to grow slightly for the year as a whole, the Ministry of Finance said Tuesday. Exports in December fell 1.9 percent year-on-year but increased 2.8 percent from the previous month to US$25.59 billion, the ministry said. Imports in December totaled US$24.18 billion, a 13.1 percent increase from November and 10.1 percent higher than the same month of 2012, leaving Taiwan's trade surplus at US$1.41 billion, down 65.7 percent year-on-year. Exports for 2013 as a whole were US$303.22 billion, up 0.7 percent from the previous year. Total imports were US$270.07 billion, down 0.1 percent year-on-year. Yeh Maan-tzwu, director of the ministry's statistics department, attributed the rise in December exports to strong demand from China as it prepares products for the Chinese New Year holiday, which begins Jan. 30. Much of the growth in exports in December came from China and Hong Kong at 2.3 percent. For the whole of 2013, Taiwan's exports to Asia increased 1.5 percent, with exports to the Association of Southeast Asian Nations' six major economies, along with China and Hong Kong, rising 2.2 percent and 1.5 percent, respectively, from a year earlier. Yeh predicted that exports in the first quarter of this year will grow only 0.26 percent, and that exports of electronic products are likely to register a strong performance from the second quarter onward. Exports are expected to pick up this year based on a prediction by Taiwan Semiconductor Manufacturing Co. (TSMC) Chairman Morris Chang that his company's 20-nanometer processor production will go into full production in the first quarter, along with the launch of new mobile phone models in the second quarter. (By Stacey Wu, Elaine Hou and Y.L. Kao)


Updated : 2021-07-30 11:31 GMT+08:00