Mainland Replaces America as Taiwan's Largest Market

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Last updated at: (Beijing Time) Tuesday, July 30, 2002

Mainland Replaces America as Taiwan's Largest Market

Chinese mainland has surpassed America as Taiwan's largest export market, taking a record 25 percent of the island's exports in May, an "Economics Ministry" report said Tuesday.

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Chinese mainland has surpassed America as Taiwan's largest export market, taking a record 25 percent of the island's exports in May, an "Economics Ministry" report said Tuesday.

Taiwanese exports to Chinese mainland totaled 94.6 billion Taiwan dollars ($2.8 billion) in May, a 44.5 percent increase from the same month last year.

In the first five months this year, Taiwan exported to China 405 billion Taiwan dollars ($12 billion) worth of goods, or 23.5 percent of the island's total exports, the report said.

The United States, which for decades had been the island's largest market, took up 20.6 percent of Taiwanese exports in the first five months, according to the report.

The island's "export reliance" on mainland, or the share of goods exported to, has increased from 9 percent in 1991 to 16.5 percent in 1996 and to 25 percent in May 2002, the report said.

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