May 05, 2008
Taiwan`s Exports to China Surge Over 20% in First 2 Months
Taipei, April 30, 2008 (CENS)--Taiwan`s two-way trade with China reached US$16.24 billion in the first two months of this year, a sharp rise of 18.9% from the corresponding figure of last year, according to the statistics released by the Bureau of Foreign Trade (BOFT) under the Ministry of Economic Affairs (MOEA).
During the two-month period, Taiwan`s exports to China shot up 20.8% to US$11.7 billion and imports up 14.2% to US$4.54 billion. In the same period, the ratio of Taiwan`s export dependence on China stood at 29.4%, up 1.5 percentage points from the corresponding ratio of last year.
It`s noteworthy that in the first two months China`s exports to the United States witnessed a minimal growth of 0.3%, showing an obvious fall from more than 20% often seen before. Compared to the double-digit growth in trade with Taiwan, China`s external trade with the U.S. seemed to wither rapidly.
Market observers indicated that electronics and related parts are Taiwan`s major export items to China and the finished electronic products assembled in China are usually exported to the U.S. However, the said products seem to supply the domestic market in China instead of the U.S. starting this year.
(by Judy Li)