Taiwan growth hit by weak global demand, yen fall

April 30, 2013

Taiwan's economic growth slowed in the first quarter as global demand for the island's electronics exports remained subdued.

The government said Tuesday the economy expanded 1.5 percent from a year earlier, which was far below expectations of 3.2 percent.

Exports grew 2.4 percent to $72.6 billion in the January-March period. That was far below target, mainly because of the slower in China and Europe, the island's two main export markets.

The government said some export orders for high-tech goods shifted to Japan because of the weaker yen.

There was robust growth in semiconductor exports but overall export growth was hurt by the weak global recovery and declining sales at Taiwan's largest smartphone maker, HTC Corp.

HTC has suffered component shortages amid efforts to launch a new flagship model.

Explore further: Taiwan minister draws ire on iPhone posting

Related Stories

Taiwan export orders jump 26.1%

January 20, 2011

Taiwanese export orders hit a historical high of $406.72 billion in 2010 on strong demand for computers, smartphones and other consumer electronic products, the government said Thursday.

Taiwan's HTC says profit down 30 percent

April 6, 2009

Taiwan's smartphone maker HTC Corp posted a year-on-year 30 percent fall in first quarter net profit as the global economic meltdown hit sales, the company said Monday.

India outsourcers see export growth slowing

February 8, 2012

India's flagship information technology and business services sector forecast on Wednesday that export growth would slow in the next financial year amid global "economic uncertainties."

Recommended for you

Automated safety systems are preventing car crashes

August 23, 2017

Safety systems to prevent cars from drifting into another lane or that warn drivers of vehicles in their blind spots are beginning to live up to their potential to significantly reduce crashes, according to two studies released ...

Newest solar cells underperform in cloudy countries

August 22, 2017

To determine how efficient new solar cells convert sunlight into electricity, small sample cells are tested under ideal conditions. However, the reported efficiency is not very representative of the actual annual yield when ...

Google to serve next version of Android as 'Oreo"

August 22, 2017

An upcoming update to Google's Android software finally has a delectable name. The next version will be known as Oreo, extending Google's tradition of naming each version after a sweet treat.

Forget oil, Russia goes crazy for cryptocurrency

August 16, 2017

Standing in a warehouse in a Moscow suburb, Dmitry Marinichev tries to speak over the deafening hum of hundreds of computers stacked on shelves hard at work mining for crypto money.

Researchers clarify mystery about proposed battery material

August 15, 2017

Battery researchers agree that one of the most promising possibilities for future battery technology is the lithium-air (or lithium-oxygen) battery, which could provide three times as much power for a given weight as today's ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.