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Taiwan’s exports fell 23.4% year on year in June, after a 14.1% fall in May. Imports fell even more, by 29.9% in June, after a decline of 21.7% in May. While external demand is declining sharply, domestic demand is declining even faster.
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Taiwan’s exports fell 23.4% year on year in June, after a 14.1% fall in May. Imports fell even more, by 29.9% in June, after a decline of 21.7% in May. While external demand is declining sharply, domestic demand is declining even faster.
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The same is true in South Korea, whose exports fell 6.0% year on year in June, following a 15.2% decline in May. Imports fell 11.7% in June, narrowing from a 14.0% fall in May. Both economies are externalizing increasingly weaker domestic demand.
The same is true in South Korea, whose exports fell 6.0% year on year in June, following a 15.2% decline in May. Imports fell 11.7% in June, narrowing from a 14.0% fall in May. Both economies are externalizing increasingly weaker domestic demand.
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Next Thursday we will see how Chinese trade performed in June. It will be interesting to see if Chinese exports contracted by nearly the same extent as Taiwan and South Korea, or if China's share of global exports continues to rise.
Next Thursday we will see how Chinese trade performed in June. It will be interesting to see if Chinese exports contracted by nearly the same extent as Taiwan and South Korea, or if China's share of global exports continues to rise.
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