Thursday, March 7, 2013

Who's Economically Healthy And Who's Not?

The following table is from the latest Taiwan export figures.  It shows the year over year and month over month percentage growth of exports to various regions of the world:




Feb.
Jan. - Feb.

Amount
As % of  All Exports
Annual Change Rate
Amount
As % of  All Exports
Annual Change Rate
Mainland China &   Hong Kong
7,216
36.6
-21.8
17,525
38.6
4.3
U.S.A.
2,056
10.4
-11.9
4,600
10.1
-4.2
Japan
1,427
7.2
0.5
3,013
6.6
8.7
Europe
1,871
9.5
-17.2
4,290
9.4
-7.3
ASEAN-6
3,947
20.0
-10.9
8,740
19.2
6.9


The first and most obvious point to make is the year over year numbers are down by large amounts.  This data point really highlights the slowdown that has occurred over the last 9-12 months, especially in China.  However, the slowdown to the EU region of 17.2% also highlights how that region's recession is really hurting global growth.

But also pay attention of the month to month percentage change in China, Japan and the ASEAN-6, indicating that overall this is where global growth is occurring right now.