Taipei,Oct.9,2012--In a reversal of six months of consecutive decline,Taiwan's exports jumped 10.4%year-on-year to US$27.166 billion in September,a 14-month high,reported the Ministry of Finance(MOF)yesterday(Oct.8).This is also the first time for Taiwan's exports to outperform South Korean since October last year.
Yeh Man-tsu,chief statistician of the MOF,noted that although resumption of positive growth for exports in September meets expectation but the double-digit growth surprised him.
The remarkable export performance in September,however,was overshadowed by the poor showing of information and communications technology products,whose exports dropped,for the fifth consecutive month,20.1%to US$1.18 billion.Under the category,exports of mobile phones plunged by US$390 million,or 56.9%,from a year earlier.
In addition,imports of capital goods dipped 0.2%to US$2.82 billion and that of machinery dropped,for the third straight month,9.7%to US$1.55 billion.
The MOF noted that the adverse factors will affect Taiwan's export performance in the coming months,making it uncertain that export rebound in September represents the bottoming out of the economy.
Yeh Man-tsu attributed the double-digit export growth in September to pickup in demand from the Asian market,as a result of which exports of mineral products hit US$2.4 billion in the month,compared with an average of US$1.8 billion in the previous months.
Excluding mineral products,exports in September amounted to US$26.6 billion,up 8%year-on-year.The MOF analyzed that the export surge of mineral products in September may result from the suspension of the production of some mainland Chinese petrochemical firms,leading to transfer of orders to Taiwan.
In the first nine months this year,Taiwan's exports tumbled 3.9%to US$223.56 billion and imports dropped 5%to US$203.99 billion.The MOF noted that due to the busy-season effect,exports will pick up steadily in the fourth quarter but sluggish demand in the U.S.and Europe may somewhat dampen the export momentum.
