Taiwan's export outlook forecast to remain bullish
December 11, 2013, 12:30 am TWN
TAIPEI--Taiwan's export outlook is set to remain optimistic through 2014 as the global economy continues to improve, according to a Tuesday research note from Australia and New Zealand Banking Group Ltd. (ANZ).
“With global growth expected to warm up in 2014, the export outlook for Taiwan is guardedly optimistic,” the bank said.
Despite ANZ's analysis, Taiwan's exports in November fell for the third consecutive month, sliding 4.7 percent from October to US$24.89 billion, the lowest this year outside of February.
Exports from January to November totaled US$277.63 billion, up 0.9 percent from the same period a year earlier, according to official statistics.
ANZ pointed to improvements in the economies of the United States and European Union, signaled by their respective purchasing managers' indexes, as a reason for things to look up for export driven Taiwan, adding that a strong reading of the U.S. Institute for Supply Management in November was “particularly encouraging.”
The apparent stabilization of China's economy will be another opportunity for Taiwan's exports, the bank said.
Together, China, Hong Kong, the U.S. and Europe account for about 60 percent of Taiwan's total exports.