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September 24, 2017

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June exports to grow significantly: institute

TAIPEI - Taiwan's exports in June are forecast to grow between 3 percent and 5 percent from last year as a result of increasing demand for electronics and information and communications goods, the Yuanta-Polaris Research Institute said yesterday.

Exports in May totaled US$26.34 billion, up 0.9 percent from a year earlier and up 5.2 percent from April, according to statistics released by the Ministry of Finance June 7.

Exports of information and communications products such as cellphones increased 13.9 percent to US$1.57 billion, the highest figure since December 2011.

The private Taipei-based think tank said the figure was also boosted by a 5.2 percent year-on-year increase in electronics exports.

Exports of plastics and rubber goods, which posted an annual growth of 6.6 percent, was another factor behind the rise of May exports, it said.

The stable increase of imports of capital equipment in the electronics industry, which accelerates production volume, suggests that exports will continue to improve, the research center said.

However, the global recession means that lower market demand will continue, pulling down prices, it said, adding that many companies are lacking investment, which weakens export growth momentum.

Although June exports are expected to be driven up by key products, the sluggish markets in other fields and the depreciation of the Japanese yen will make it difficult for export growth to maintain its past performance, the institute said.

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