Finance Minister Chang Sheng-ford says that a decline in Taiwan’s exports is slightly easing.
Chang was speaking on Thursday. From January to May, Taiwan’s exports fell by 5.7%, while its imports declined by 14.7%. In May, the decline in exports narrowed to 5.4%. Chang attributed the sluggish export performance to a sharp fall in global oil prices and a slowing of economic momentum across the world. He also said that improvements in export performance will depend on the global economic situation.
"Mining and plastic products make up a large share of Taiwan’s exports, so [a decline in the export of these products] affected overall export performance," said Chang.
"Improvements will depend on several factors. One issue is whether economic growth in other countries will improve. The US economy is improving and so is the European economy. The Japanese economy is looking to improve, but the economies of China and the ASEAN countries still have some way to go. We have to look at demand from other countries and the competitiveness of our products,” he said.