Rebound expected in Taiwan’s December Trade Data

With the demand from China deteriorating and shipments to the US decelerating, Taiwan's exports slumped by 16.9% YoY in November, the fastest contraction ever since the Great Financial Crisis. As the year end shipments peaked and December data likely to be corrected, a bounce back in export growth to -10.5 YoY is expected. However, crude oil prices plunged again in December; the negative effect from the previous year's plunge is seen reducing.

"Given the weakness in exports, the strength in real imports is less likely to be sustained. We expect imports to have fallen faster, by 16% yoy in December" - Societe Generale