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Taiwan - March exports
Export growth remained strong in March. Leading indicators are pointing to somewhat weaker growth ahead.
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Export growth remained strong in March. Leading indicators are pointing to somewhat weaker growth ahead.
The cycle has clearly peaked in Taiwan, but the gradient of the slowdown still isn't clear.
Taiwan's exports were once again strong in February, rising by 34% YoY, the fastest since July 2022.
It does seem clear that the export surge of 2020-21 is now done. It is less obvious just how much further export growth slows down.
Like exporter sentiment in Korea, Taiwan’s Monitoring Indicator suggests a rather benign outlook for export growth.