At the end of 2010, Taiwan’s total export value was US$ 536,040 millions, representing a rise of 39.1 percent from the year before. Bureau of Foreign Trade, Ministry of Economic Affairs R.O.C. specifies that comparing to the global export standard after the financial crisis, it clearly demonstrates that Taiwan’s trade is not only recovering but also has potential to grow in the year ahead.
At the end of 2010, Taiwan’s total export value was US$ 536,040 millions, representing a rise of 39.1 percent from the year before. Bureau of Foreign Trade, Ministry of Economic Affairs R.O.C. specifies that comparing to the global export standard after the financial crisis, it clearly demonstrates that Taiwan’s trade is not only recovering but also has potential to grow in the year ahead.
Bureau of Foreign Trade specifies that last year the largest export market of Taiwan was the mainland China, valued at US$ 114,750 millions, accounting for 41.8 percent of Taiwan’s total export, and representing a rise of 37.1 percent. The second largest export market of Taiwan was ASEAN (6 countries), representing a rise of 37.2 percent and the third largest export market of Taiwan was the U.S., representing a rise of 33.6 percent. The fourth largest import market of Taiwan was Japan, valued at US$ 51,930 million and representing a rise of 43.3 percent. Taiwan’s trade deficit with Japan valued at US$ 33,910 millions, accounting for 56.1 percent of the total deficit. By country, China and Japan are the largest contributors of Taiwan’s trade surplus and deficit respectively.
Bureau of Foreign Trade specifies that once the Economic Cooperation Framework Agreement of the two countries between Taiwan Strait takes effect, Taiwan export will be more stable. It is expected that Taiwan’s export to the world will grow between 6.40-14.75 percent and Taiwan’s import will rise by 6.89-12.83 percent. Even though export figure may not be as high as last year, it will still be on a rising trend.
