Chinese Mainland Replaces US as Taiwan's Largest Export Market

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Last updated at: (Beijing Time) Sunday, September 29, 2002

Chinese Mainland Replaces US as Taiwan's Largest Export Market

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In the last seven months, Taiwan's export dependence on China's mainland reached 24 percent, and the latter had surpassed the US, becoming the biggest export destination of the island, according to statistics published lately by the "Trade Bureau" of Taiwan.

The trade surplus of Taiwan to the mainland rose accordingly to 13.3 billion (US dollars, the same below), and the whole-year figure is expected to exceed 23 billion US dollars, hitting a record high.

Taiwan exported to the mainland 2.7 billion worth of goods in August, a rise of 43.6 percent over the same period of previous year, statistics showed. The island's January-July exportation growth rate to the mainland stood at 30.8 percent, much higher than that to the US, Japan and EU.

In the last seven months, Taiwan exported goods worth of 17.56 billion to the mainland, 23.9 percent of the island's total. While the figure to the US only registered 21 percent. As for importation, the figure reported 4.23 billion from mainland.

Since the fourth quarter is traditionally an export booming time for the island, the year-total trade surplus to the mainland is expected to reach 23 billion.

The trade surplus of Taiwan to mainland increased this year. It exceeded 10 billion in 1993, reached 19 billion in 2000 and last year witnessed 18.1 billion.

By PD Online Staff Member Li Heng

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