Exports may record double-digit fall

Michelle Hsu, The China Post

The Ministry of Finance (MOF) yesterday predicted that the exports during this month may record a double-digit decline from the same period last year, following the 22.6 percent slump in May.

The MOF made the prediction when it disclosed the trade data for the first half of June. The exports during the 15-day period shrank 18.1 percent from one year earlier to stand at US$5.14 billion and imports fell 23.8 percent to US$630 million.

Due to the even sharper decline of the imports, the trade surplus during the period expanded to US$630 million, a 76-percent growth from one year earlier.

Regarding the depreciation of the New Taiwan dollar, the MOF said that the decline margins for exports and imports during the 15-day period would be smaller if the values are denominated in New Taiwan dollars, estimatedly down 9.6 percent and 15.9 percent, respectively.

The MOF statistics also showed that this year’s exports as of June 15 dropped 9.6 percent to US$57.43 billion, while imports fell 15.2 percent to US$52.03 billion. The trade surplus during this period amounted to US$5.4 billion, up 147.4 percent from one year earlier.