Taiwan export-decreases slow in February

Export orders received by Taiwan-based companies slid 28.6% on year to US$12.59 billion in February 2009, compared to an on-year decline of 44.1% in January, according to Taiwan's Bureau of Foreign Trade (BOFT) of the Ministry of Economic Affairs (MOEA). On a sequential basis, Taiwan's February export orders grew by US$220 million, driven by more shipments to China (including Hong Kong).

Taiwan exports to the China market fell 25.2% on year in February, but managed a 35.6% growth sequentially, said BOFT. The export proportion to the region rose to 39.9% of Taiwan's overall exports last month, BOFT noted.

Taiwan's total foreign trade value slid 30% on year to US$23.51 billion last month, with both imports and exports experiencing on-year drops but sequential increases, according to BOFT. Exports of IT and electronics products went down 30.1% in February compared with a year ago.