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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Taiwan expects record trade surplus in 2009: gvt official AFP - Wednesday, September 30 Send IM Story Print Taiwan expects record trade surplus in 2009: gvt official Slideshow: Full Photo Coverage: Business & Economy TAIPEI (AFP) - – Taiwan expects its trade surplus to hit a record high of 30 billion dollars this year, as imports are likely to plunge at an even faster rate than exports, a government official said Wednesday. Shipments from the island, the world's 18th largest exporter, have dropped steeply so far this year, but they are expected to pick up towards the end of 2009, said the official at the Bureau of Foreign Trade. "We believe sales to the mainland have returned to growth in September," he told AFP, asking not to be named. China is Taiwan's largest trading partner. As a result, Taiwan's exports, which declined nearly 32 percent in the first eight months of 2009, are likely to be down by a more modest 15 to 20 percent for the full year, he said. Imports dropped nearly 40 percent in the first eight months and are forecast to fall by about 24 percent for the year as a whole, according to the official. Taiwan's economy, one of the most trade-dependent in the world, suffered a devastating impact from the global crisis as global trade was battered. Its gross domestic product contracted by a record 10.24 percent in the first quarter of 2009, followed by a 7.54 percent contraction in the second quarter, according to previously published figures. "This year's record trade surplus will make a palpable contribution to economic growth," the bureau said in a statement. Recommend Send IM Story Print Related Articles Russia's VEB may get stake in AvtoVAZ - report Reuters - Wednesday, September 30 GLOBAL ECONOMY-Asian factories busier, Europe banks wean off ECB Reuters - 2 hours 51 minutes ago Thai broadcaster BEC World sees ad revenue slowing Reuters - Wednesday, September 30 Japan's Maehara: govt will back JAL in worst case Reuters - Wednesday, September 30 NALCO sells aluminium at $90.18/T premium -source Reuters - Wednesday, September 30 News Search Top Stories German unemployment falls Fresh violence in Guinea after stadium bloodbath France Telecom boss under fire over staff suicides BNP Paribas to raise capital, repay state aid early Film world backs Polanski as he fights Swiss arrest More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended France Telecom boss under fire over staff suicides Fresh violence in Guinea after stadium bloodbath Xerox to buy ACS for $6.4 bln Britain on course to exit deep recession Film world backs Polanski as he fights Swiss arrest More Most Viewed » Ozone hole smaller in 2009 than 2008: WMO Nanoparticles could pose threat to humans: scientists Remains of Jesus-era synagogue found in Israel Implanted tooth helps blind US woman recover sight More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2009 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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