Published:
Taiwan exports take a beating in February
15% yoy decline suggests demand slowdown.
Here's more from BBVA:
Taiwan’s exports declined by 15.8% y/y in February, below market expectations (consensus: -8.1% y/y). However, taking a look at the first two months of 2013 combined, exports rose by 2.0% y/y, indicating that external demand, while weakening, is relatively stable. Intra-regional exports are a growing source of demand, especially from China & Hong Kong (4.3%) and ASEAN (6.9%). Demand from the Europe and US improved, but still remained weak. Recent improvement in business and consumer sentiment should bode well for further economic recovery, albeit at a mild pace.
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