TAIPEI : Taiwan's exports fell in November for the third straight month and more rapidly than forecast due to the worsening state of the global economy, and with the outlook again clouded by inflation and interest rate rises around the world.
The ministry said global demand was slowing"more and more obviously", hit by the war in Ukraine, unabated global inflation pressures and interest rate increase cycles in major economies. Taiwan's total exports of electronics components in November fell 4.9 per cent to $15.15 billion, with semiconductor exports down 3.4 per cent from a year earlier.
China's exports and imports shrank at their steepest pace in at least 2-1/2 years in November, as feeble global and domestic demand, COVID-led production disruptions and a property slump at home piled pressure on the world's second-biggest economy.