Published on ShanghaiDaily.com (http://www.shanghaidaily.com/)
http://www.shanghaidaily.com/sp/article/2008/200806/20080610/article_362595.htm
Taiwan growth exceeds estimates
Created: 2008-6-10
Author:James Peng
TAIWAN'S export growth accelerated in May as demand from the Chinese mainland, India and Southeast Asia countered weakening sales to the United States.
Overseas shipments increased 20.5 percent from a year earlier, more than April's 14-percent gain, the financial authority said in Taipei yesterday. That exceeded all 11 estimates in a Bloomberg News survey of economists.
"The strength is mostly from Asia," said Alan Liao, an economist at Chinatrust Financial Holding Co in Taipei. "Taiwan's economy remains stable, yet inflation remains the key risk throughout the region."
Taiwan's economy grew 6.06 percent in the first quarter, as the island joined Japan, Hong Kong and Malaysia in reporting expansion.
Sales of electronics to the mainland have helped Taiwan weather fallout from the US slowdown. Many Taiwanese electronics makers ship parts and components to China that are re-exported as finished products to other markets. Taiwan's trade and investment with the mainland, is poised to improve as Ma Ying-jeou's government works to lift a ban on direct transport across the 161-kilometer Taiwan Strait that separates them.
Overseas shipments increased 20.5 percent from a year earlier, more than April's 14-percent gain, the financial authority said in Taipei yesterday. That exceeded all 11 estimates in a Bloomberg News survey of economists.
"The strength is mostly from Asia," said Alan Liao, an economist at Chinatrust Financial Holding Co in Taipei. "Taiwan's economy remains stable, yet inflation remains the key risk throughout the region."
Taiwan's economy grew 6.06 percent in the first quarter, as the island joined Japan, Hong Kong and Malaysia in reporting expansion.
Sales of electronics to the mainland have helped Taiwan weather fallout from the US slowdown. Many Taiwanese electronics makers ship parts and components to China that are re-exported as finished products to other markets. Taiwan's trade and investment with the mainland, is poised to improve as Ma Ying-jeou's government works to lift a ban on direct transport across the 161-kilometer Taiwan Strait that separates them.
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