2014 exports hit record level in Taiwan

2015-01-14

Taiwan’s exports gained 2.7 percent to an all-time high of US$313.84 billion in 2014, reflecting increased global demand for locally produced electronics, machinery and transportation equipment.

During the year, imports picked up 1.6 percent to US$274.23 billion—the second best result on record—and lifted Taiwan’s total foreign trade to US$588.07 billion. This was up 2.2 percent and also the second best result to date. Net trade surpluses increased 11.4 percent to a new high of US$39.61 billion.

Yeh Maan-tzwu, director-general of the Ministry of Finance’s Department of Statistics, said Jan. 9 that the strong showing stems from a 13.5 percent increase in electronics exports. “The near 6 percent rises in outgoing shipments of machinery and transportation equipment also played a part.”

A breakdown of MOF data shows that shipments to Japan, mainland China, including Hong Kong, and Taiwan’s six major trading partners from the Association of Southeast Asian Nations reached new highs, gaining 3.6 percent, 2.9 percent and 1.3 percent, respectively.

Regarding imports, transportation equipment surged 53.3 percent on the back of aggressive investment by Taiwan’s aviation sector. Continuous expansion of the local semiconductor sector also boosted imports of precision instrument by 14 percent.

But the gains were largely offset by the 5.1 percent drop in mineral imports as global oil prices continued to fall.

Looking ahead, Yeh said the ministry remains cautiously optimistic with the arrival of holiday season in mainland China. “Ongoing introduction of new mobile devices and increasing popularity of the Internet of Things will create additional business opportunities for Taiwan firms.”

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=226208&CtNode=413)