Economics
‘Winter Is Coming,’ Taiwan Warns as Exports Slow to a Crawl
- Shipments grew 2% in August, slowest pace since July 2020
- September exports could shrink by as much as 3%, official says
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Taiwan’s exports grew at the slowest pace in more than two years, the latest sign that a slowdown in global demand is weighing on the economy and could cause more trade pain in the months to come.
Overseas shipments grew just 2% in August compared to a year earlier, according to a statement from the Finance Ministry in Taipei on Wednesday. That was the slowest pace of growth since July 2020, when exports expanded 0.3% as the pandemic hit.