Taiwan Sept exports drop for first time in two years, outlook poor

TAIPEI: Taiwan’s exports fell in September for the first time in more than two years on weakness in demand in major market China and stagnant consumer spending even as chip demand held up, with the government predicting more turbulence ahead.

Exports fell 5.3% in September from a year earlier to $37.53 billion, the Ministry of Finance said on Friday, logging a contraction for the first time since June 2020.

That was compared to the 2% rise recorded in August, and well below a forecast for a 1.5% increase in a Reuters poll.