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July brings hope for end to 15-month export slump: Econ Ministry

  • 20 August, 2016
  • Editor
July brings hope for end to 15-month export slump: Econ Ministry
Recovery on the way?

The economics ministry says that there are signs that could signal the end of a record-breaking 15-month drop in exports.

The ongoing drop in exports has proven difficult to break out of, outlasting the twelve-month decline that followed the 2008 global financial crisis.

But the economics ministry says that strengthening demand for electronic chips and the introduction of new models of handheld devices in the second half of the year could help electronics manufacturers bounce back. The ministry says that demand for panels and machinery is also growing.

The ministry plans to release export order figures for July on Monday, but some statistics released in advance of the full report show further signs of recovery. Electronics exports saw year-on-year growth of 1.2% in July, ending 17 months of negative growth.

The economics ministry says that there is a more than 80% chance that August will bring a turnaround in export orders.

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