Taiwan’s exports have dipped slightly this year, but they’ve been spared by increasing investment and a rise in exports to the United States. That was the word from the economics ministry on Monday.
Government figures show that between January and September, Taiwan’s exports dipped by 2.5% year-on-year. By comparison, South Korea saw a 9.8% decrease in exports, and Japan a 4.8% decrease during the same period.
A senior official from Taiwan’s economics ministry said that although many countries been affected by the ongoing US-China trade war, Taiwan has fared slightly better. That’s due to increased investment by Taiwanese businesses returning from China, and a 17.7% increase in exports to the United States.
The ministry said that if you adjust for dropping raw material prices, Taiwan’s exports have actually seen slight growth so far this year. The ministry says it remains confident about the outlook for Taiwan’s economy this year.