资源描述：
《汇丰银行-台湾宏观经济-taiwan export data(june2017) picking up after the lull-20170707-hsbc》由会员上传分享，免费在线阅读，更多相关内容在行业资料-天天文库。
1、Economics-DataReactions07July2017Taiwanexportdata(June2017)JuliaWangPickingupafterthelullEconomist,GreaterChinaTheHongkongandShanghaiExportgrowthsurprisedontheupsideinJune,aftersomemoderationinAprilandBankingCorporationLimitedMay.AkeydriverwasthesurgeindemandfrommainlandChinaan
2、dASEAN,as+85236043663juliarwang@hsbc.com.hkexportstotheseregionsreboundedtodoubledigitgrowthovertheperiod.SteadygrowthinmainlandChinashouldcontinuetosupportTaiwan’sexportsectors.ViewHSBCGlobalResearchat:Tech-relatedproductsshouldalsodowellaheadofnewproductlaunchesin2H.http://ww
3、w.research.hsbc.comImportgrowthcameinmuchweakerthanexpectedonthebackoflowercommodityprices.EvenasgrowthmomentumhassoftenedsomewhatsinceIssuerofreportQ1,Taiwan’seconomyisstillonamuchstrongerfootingcomparedwithayearTheHongkongandShanghaiBankingCorporationLimitedago.Thecombination
4、ofstrongergrowthandastrongercurrencyshouldgivetheDisclosures&Disclaimercentralbankgoodreasonstokeeppolicyrateonhold.ThisreportmustbereadwiththedisclosuresandtheanalystcertificationsintheDisclosureFactsappendix,andwiththeDisclaimer,whichformspartofitExportgrowthsurprisedontheups
5、ideat13.0%y-o-yinJune,upfrom8.4%y-o-yinMay(Bbg:8.8%,HSBC:9.0%)Importgrowthwasbelowexpectationsat3.7%y-o-yinJune,downfrom10.2%y-o-yinMay(Bbg:12.0%,HSBC:8.5%)JunetradebalancecameinatUSD5.8bncomparedwithUSD3.5bninMayIntermsofregions,exportstoMainlandChina&HongKong,US,EuropeandJapa
6、nwere21.0%,7.0%,7.3%and6.8%(alliny-o-yterms)comparedwith6.4%,12.9%,13.0%and3.8%(alliny-o-yterms)respectivelyinMayExportgrowthtoASEANcameinat12.5%y-o-ycomparedwith7.0%y-o-yinMayImportsfromMainlandChina&HongKong,US,EuropeandJapanwere6.4%,-11.0%,9.6%and-5.3%(alliny-o-yterms)compar
7、edwith11.7%,-1.7%,12.9%and-0.5%(alliny-o-yterms)respectivelyinMayIntermsofproducts,exportsofpartsofelectronicproductswere19.5%y-o-yupfrom7.5%inMay.Exportsofinformationandcommunicationproductsandmachinerycameinat17.2%y-o-yand16.8%y-o-y,comparedwith6.1%and19.0%inMayImportsofminer
8、alproductscameinat6.2%y-o-yvs.22.0%inMay.Importsofmach
