The fall of electronic sales and export sectors have sent Asia’s sixth largest economy into turmoil, with gross domestic product losing 8.36% in the past three months of 2008, compared with the previous year. The overseas demand has decreased due to the economic meltdown. This is the “biggest slump since 1961”, according to the Directorate General of Budget, Accounting and Statistics.
The export sector, which represents a big share of Taiwan’s economy, fell by 19.75%. The country has also reduced importation by 22.63%.
