Exports in Taiwan witnessed a double-digit growth for the first time since January 2013, led by electronics sector.
The external trade data out yesterday surprised on the upside. Exports grew 12.1 percent y/y in November, the first double-digit rate seen since January 2013 and a further rise compared to 9.4 percent in October.
Capital goods imports also increased 13.2 percent, on top of a very strong 47.6 percent in the previous month. The electronics sector remained the key driver. Exports of electronics components maintained a strong growth of 26.9 percent, while imports of semiconductor equipment continued to surge 34.8 percent.
The November trade figures, together with the solid results seen in manufacturing PMI, corroborate the view that growth recovery will be sustained in the current quarter. There is a good chance that GDP growth will pick up further on the y/y basis in Q4 2016, to about 2.5 percent.
"For the whole year of 2016, we now look for an average growth of 1.5 percent (old estimate: 1.3 percent). The 2017 growth forecast remains unchanged at 2.1 percent," DBS commented in its latest research report.


Best Gold Stocks to Buy Now: AABB, GOLD, GDX
China 618 Smartphone Sales Drop 13% as Higher Prices Hurt Demand, Huawei Gains Market Share
Oil Prices Rise as U.S.-Iran Conflict Fuels Strait of Hormuz Supply Fears
Gold Price Rebounds as U.S.-Iran Tensions and Fed Minutes Keep Markets on Edge
Japan Regional Bank Stocks Drop After Zentoshin Bankruptcy Sparks Credit Risk Concerns
Iran Targets U.S. Bases in Bahrain, Kuwait as Hormuz Conflict Escalates and Oil Prices Jump
Dollar Slips After Fed Minutes as Iran Tensions, Inflation Risks Keep Markets Cautious
US Stock Futures Steady as US-Iran Tensions and Fed Inflation Concerns Weigh on Markets
Gold Prices Slip as Stronger Dollar, Fed Rate Outlook Weigh on Bullion 



