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Taiwan's exports tumble 11.7% in April

Taiwan's exports tumble 11.7% in April

Taipei, May 8 (CNA) Taiwan's exports and imports took their steepest monthly fall in five years in April because of cheaper oil and fuel prices and slower global economic growth, official data showed Friday. The value of the country's exports fell 11.7 percent in April year-on-year to US$23.49 billion in goods last month, while imports tumbled 22.1 percent to US$18.73 billion, according to Ministry of Finance data. Yeh Maan-tzwu, the head of the ministry's Department of Statistics, attributed the steep declines to slower global economic growth, cheaper oil and agricultural and industrial materials, and reduced production during the Tomb Sweeping holiday in early April. Among major export categories, those seeing the biggest fall in shipment value were mineral products (mainly exported gasoline), plastic and rubber products and base metal products. The fall in exports also stemmed from lowered demand in Asia, with exports to China and Hong Kong down 12.2 percent annually.
Exports to Europe tumbled even more sharply, by 21.6 percent. Looking ahead, Yeh forecast a smaller drop in exports in May, as rising oil prices and more working days will balance out stiff competition facing information and technology products, solar cells and optoelectronic products. (By Wei Shu and Scully Hsiao)


Updated : 2021-09-21 11:43 GMT+08:00