Stronger Taiwan exports suggest global economic recovery

TAIPEI - Taiwan’s exports increased 1.2% y/y in June, in line with market expectations. Electronics remained the key driver (up 9.9%), while basic metal and machineries also registered strong on-year gains (up 12.2% and 12.7%) in June.

ANZ Bank says the June data reinforces its belief in the recovery of the global economy. “Demand from the US and Europe warmed up in Q2, gaining 7.2% y/y and 6.4% y/y, respectively. Shipments to Mainland China and Hong Kong grew 4.9% y/y in Q2,” ANZ says.
“Anecdotally, tech manufacturers in Taiwan remain positive about the export outlook in H2 2014, backed by the launch of new smartphone models and upgrade of Windows operating system. The electronics and ICT sector will help sustain Taiwan’s external demand.”  www.live.anz.com (ATI).