China cushions fall in Taiwanese exports

Taiwan yesterday posted a seventh consecutive month of falling exports, but at a slower rate of decline thanks to stronger demand from China.
The Taiwanese trade data came as the World Bank underlined the importance of Chinese demand in its latest assessment of the region's economies. While there were “signs that the strongest economy in the region, China, is beginning to turn the corner”, the bank cautioned that “a sustainable [east Asian] recovery will ultimately depend on developments in the advanced economies”.
In Taiwan, March exports fell by a third compared with a year ago, the finance ministry said. Nonetheless, the $15.5bn (€11.5bn, £10.5bn) of goods shipped was the highest in four months and nearly 24 per cent more than in February. “Exports were slightly boosted by rush orders after the Chinese New Year and by the replenishment of inventory,” the ministry said.
Recent consumer demand from China, spurred by Beijing's stimulus measures, has provided some relief to Taiwanese companies. China accounted for 40 per cent of Taiwan's exports last month, compared with 30 per cent at the beginning of the year.