Taiwan’s exports were down 2.1% for June for the 17th consecutive month of negative growth. That’s according to government statistics released on Friday.
Exports stood at US$228.9 billion for the month, which also represented month on month contraction of 2.8%. Imports meanwhile stood at US$193.1 billion, down a full 10% from last year.
A finance ministry official said however that there were some encouraging signs that the outlook for the second half of the year may not be too bad. These included a recovery in exports of electronic components, which in June saw the end of a 14-month decline.
The official also said that declining prices of raw materials have also made manufacturers more hopeful about next month’s export figures.