02.22.2001
Exports will continue to disappoint
Exports in the first half of February rose 2.9% YoY to US$5.4b, while
imports surged 27.1% YoY to US$6.0b. After posting 22.0% YoY growth in 2000, exports were
down 17.0% YoY in January. Meanwhile imports fell 15.0% in the month following 26.5%
growth last year.
The Ministry of Finance predicts export and import growth of 7.0% and
6.5% YoY, respectively, in February. We remain more cautious and forecast a rise in
imports of only 5.0% YoY in February, and expect exports to decline YoY. We maintain our
2001 export growth forecast at 5.5% amid weak global demand.
IrmakSurenkok@Primasia.com +886-[0]2-2547-8873 |
