Impacted by China’s weakening economy and falling demand from end-users, Taiwan’s Department of Statistics said that the country’s export orders plunged by 23.4 percent in November compared to the same month last year.
The drop marked the third consecutive monthly year-on-year decline and the sharpest fall since March 2009.
Experts said it is almost a foregone conclusion that the annual performance of Taiwan’s exports constitutes a recession and that the first half of next year is not looking optimistic.
Data released by the Ministry of Economic Affairs (MOEA) on Dec. 20 showed Taiwan’s export orders in November totaled $50.1 billion, down 23.4 percent from a year earlier, a much greater drop than the ministry’s forecast of a 14.5 to 17.6 percent….