|Taipei exports picture worsens
Taiwan's exports remained sluggish in November but declines in most overseas markets were offset by increased demand from China, its biggest export destination, the government said.
Shipments in November totalled US$24.9 billion, unchanged from a year ago but down 4.7 percent from the previous month, the finance ministry said in a statement.
The figure however marked an improvement following year-on-year declines of 7 percent and 1.5 percent respectively in September and October.
Exports to the Chinese mainland and Hong Kong in November grew by 6.5 percent year-on-year to US$10.6 billion while shipments to Southeast Asia slipped 9.3 percent to US$4.4 billion and those to Japan fell 7.6 percent to US$1.6 billion.
Taiwan sold US$2.7 billion worth of goods to the United States last month, down 0.7 percent from the previous year and sales to Europe came in at US$2.1 billion, down 1.6 percent from a year ago.
The worse-than-expected performance of the export sector prompted the government to slash its 2013 full-year growth forecast to 1.74 percent, down from 2.31 percent predicted in August and 2.4 percent in May.
GDP was forecast to rise 2.59 percent in 2014, down from 3.37 percent outlined previously.—AFP