China trade falls sharply
Dec 10, 2012
Exports from Taiwan fall 11.6%
Poor Taiwanese export numbers follow a regional drop in trade, particularly from Asia to developed markets.
Taiwan’s exports fell by 11.6% year on year in July far exceeding economist’s consensus expectation of a smaller 7.7% drop, according to data from Taiwan’s Ministry of Finance. In response, the Directorate General of Budget, Accounting and Statistics (DGBAS) has cut its growth forecast for gross domestic product (GDP) in 2012 to 1.66%, from a previous estimate of 2.08%.
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