(Bloomberg) --
Taiwan's exports registered an unexpected contraction in September as rising shipments to the U.S. and Japan were not enough to offset a steep fall in trade with China.
Overseas shipments from Taiwan fell 4.6% on year in September driven by weak international demand for metals, plastics and machinery, according to a statement from the Ministry of Finance. Economists had forecast an increase of 0.8%.
The government's chief statistician Beatrice Tsai attributed the decline in part to strong trade figures from the same month last year. She said full-year exports are likely to shrink.
After showing signs of improving in recent months, the decline in Taiwan's exports adds to warning signals from South Korea and Japan with the holiday peak season in the U.S. showing few signs yet of offering respite from the U.S.-China trade war. Korean exports registered a 10th straight month of declines in September.
Any hopes for a breakthrough in trade talks this week appear to have diminished after senior Chinese officials indicated they are unwilling to discuss industrial policy or the government subsidies, two key U.S. complaints.
To contact the reporter on this story: Debby Wu in Taipei at dwu278@bloomberg.net
To contact the editors responsible for this story: John Liu at jliu42@bloomberg.net, Samson Ellis, Karen Leigh
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