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Bloomberg
Taiwan’s exports registered an unexpected contraction in September as rising shipments to the US and Japan were not enough to offset a steep fall in trade with China.
Overseas shipments from Taiwan fell 4.6% on year in September driven by weak international demand for metals, plastics and machinery, according to a statement from the Ministry of Finance. Economists had forecast an increase of 0.8%.
The government’s chief statistician Beatrice Tsai attributed the decline in part to strong trade figures from the same month last year. She said full-year exports are likely to shrink.
After showing signs of improving in recent months, the decline in Taiwan’s exports adds to warning signals from South Korea and Japan with the holiday peak season in the US showing few signs yet of offering respite from the US-China trade war.
Korean exports registered a 10th straight month of declines in September.