InfoAnda - Taiwan's exports down 8.3 percent in October

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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Secondary Navigation Singapore Asia Pacific World Search Search: Taiwan's exports down 8.3 percent in October AFP - Saturday, November 8 TAIPEI (AFP) - - Taiwan's exports in October fell 8.3 percent from a year earlier largely on falling demand for electronic and precision products amid a global economic slump, the government said Friday. Last month, the island's exports totalled 20.81 billion US dollars, down 1.88 billion dollars year-on-year, while imports fell seven percent to 17.86 billion dollars, the ministry of finance said. Taiwan recorded a trade surplus of 2.95 billion dollars in October, down 15.3 percent from a year earlier, the ministry said. "The fall in exports is a warning to Taiwan's economy. With uncertainty over the global economy ahead, the downside could be just a beginning," said Cheng Cheng-mount, chief economist of Citibank in Taiwan. Two-way trade is the backbone of the island's economy, accounting for 40-50 percent of gross domestic product. Exports of electronics products in October fell 8.4 percent from a year earlier to 5.51 billion dollars and sales of precision products lost 24.1 percent to 1.50 billion dollars, it said. Taiwan's exports to China and Hong Kong in October fell 19.9 percent from a year earlier to 7.47 billion dollars and exports to the US declined 11.4 percent to 2.57 billion, while shipments to Japan rose 17.7 percent to 1.56 billion dollars. In the first 10 months of this year, Taiwan's exports rose 11.9 percent to 225.24 billion dollars from a year earlier and imports gained 18.5 percent to 213.84 billion dollars. The island posted a 45.5 percent fall in its trade surplus over the past 10 months. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Sri Lanka cbank expects GDP growth to meet 2008 aimReuters - 2 hours 16 minutes ago Thai Land & Houses Q3 net profit falls, below f'castsReuters - 2 hours 30 minutes ago IMF says Cambodian economic growth to slow in 2009AP - 2 hours 54 minutes ago China shares rise as investors hope for new policyAP - Saturday, November 8 Related Articles: Business EU leaders debate financial reform to-do listAP - 1 hour 5 minutes ago Myanmar and Bangladesh meet over sea disputeAP - 1 hour 44 minutes ago Goldman expects China share mkt to improve next yearReuters - 1 hour 45 minutes ago Dollar mostly lower in EuropeAP - 1 hour 51 minutes ago Philippines surprises with bank reserve cutReuters - 1 hour 53 minutes ago Enlarge Photo Taiwan's exports down 8.3 percent in October Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Among Obama's next challenges: his own security IMF sees recession in advanced economies in 2009 US doctors tell Liu Xiang he needs surgery Obama's grandmother, family 'rock', dies on election eve World stocks plunge on rising recession fears View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology

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