Stronger export trends in Asia - AmpGFX

Greg Gibbs, Director at Amplifying Global FX Capital, suggests that the Korea is the first Asian country to report exports in December and with a weak end to 2015, year-over-year comparisons may exaggerate the appearance of strength, but Korean exports rose 6.4%y/y in Dec, above 4.6% expected, a high growth rate since April-2014.

Key Quotes

“Taiwanese exports and export orders.  In November, Taiwanese exports rose 12.1%y/y, a high since Jan-2013 (released on 7 Dec). Orders rose 7.0%y/y in Nov, above 5.0% expected (released on 20 Dec).”

“Indonesia’s exports surged 21.3%y/y in November, supported by higher commodity prices rebounding from a low base in late 2015.”

“Thailand’s exports rose over 10%y/y in November, a high growth rate in almost four years. Vietnam’s exports rose 8.6%y/y in December a 12 month high growth rate.”

“Singapore’s non-oil domestic export growth rose to 11.5%y/y in November, equaling its previous high since March 2015.”

“Industrial production recovers in advanced Asian countries

Industrial production rose at the highest annual  rate in Taiwan in November (8.8%y/y) since Oct-2014, in Korea (4.8%y/y) in at least three years, and Singapore (11.9%y/y) since Mar-2014.”