PANDEMIC’S INFLUENCE: Exports of textile products plummeted 35.1 percent, but shipments of electronic components rose 13.2 percent to a record US$10.24 billion

Taipei Times
Date: Jun 09, 2020
By: Crystal Hsu / Staff reporter

The nation’s exports last month declined 2 percent year-on-year to US$27 billion, as cheaper crude oil prices dampened sales of products heavily reliant on raw materials, overshadowing shipments of electronic components, the Ministry of Finance said yesterday.

It was the third straight month the critical economic gauge remained negative and exports might not improve this month or even for the rest of this year, Department of Statistics Director-General Beatrice Tsai (蔡美娜) told a news conference in Taipei.

“The COVID-19 pandemic continued to weigh on sales of products using raw materials, as seen in a 57.3 percent plunge in exports of mineral products,” Tsai said.

Likewise, shipments of base metals, plastic and chemical products dropped 15.2 percent, 19.9 percent and 15.6 percent year-on-year respectively, the ministry said in a report.    [FULL  STORY]