Business News Asia
Taiwan’s exports are projected to have fallen for the third month in a row in November, significantly more than in the previous month. This was due to concerns about a global recession and uncertainties caused by the war in Ukraine and the COVID-19 outbreak in China. As a global center for chip manufacturing and a major supplier to Apple Inc, Taiwan is one of the leading exporters of technology products in Asia. Exports are expected to have fallen 6.7% year-on-year last month. This would be a steeper decline than the 0.5% in October.
Forecasts for exports vary widely, pointing to a decline of between 0.67% and 10.7%, reflecting global economic uncertainty.
Taiwan’s Ministry of Finance expects exports to decline by 5% to 8% year-on-year in November. The consumer price index is expected to rise 2.5% in November from a year earlier, slower than the 2.72% increase in October. Inflation data will be released on Tuesday, followed by trade data on Wednesday.