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Taiwan Trade Stands at Low Level in February
Taiwan's export and import growth rates for February this year will stand at a low level compared with the same period last year, according reports reaching in Hong Kong from Taipei Wednesday.
The growth rate for the island's exports for February is predicted to be seven percent, while that for imports is projected at 6.5 percent, the local financial authorities were cited assaying.��
Statistics showed that in the first half of February, Taiwan'sexports totaled US$5.35 billion and its imports amounted to US$5.96 billion, with a trade deficit of US$608 million for the period.
The statistics suggested a slowdown in Taiwan's trade expansion due to the cooling of the global economy. Exports for the year to February 16 totaled US$14.65 billion and imports totaled US$14.31 billion, marking a drop of 7.9 percent and 2.3 percent, respectively, over the same period the previous year. Thetrade surplus of 348 million dollars for the period was 72.5 percent lower than that of the same period a year earlier.
Analyzing prospects for the near future, the authorities said the slowdown in the US economy will have a great impact on the island's electronics exports because of a decreased demand,leading to only a slight growth in exports.
The island is expected to achieve only a 4.2-percent export growth rate and 3.4-percent growth rate in imports for 2001.
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