MOEA work­ing to boost ex­ports

The China Post - - LOCAL -

The gov­ern­ment will fo­cus on the ex­port of in­te­grated so­lu­tions and help in­vestors set up op­er­a­tions over­seas as part of an ef­fort to boost Tai­wan’s ex­ports, the Min­istry of Eco­nomic Af­fairs said Satur­day.

In the first four months of this year, Tai­wan’s ex­ports have de­creased 6.2 per­cent, with ex­ports to Europe and ASEAN suf­fer­ing the big­gest decline, fol­lowed by China.

Be­sides Tai­wan, South Korea, Sin­ga­pore, China, the United States and Ja­pan have also seen un­sat­is­fac­tory trade re­sults in re­cent months. South Korea, for ex­am­ple, saw its ex­ports fall by 8 per­cent in April and a fur­ther by 10.9 per­cent in May.

The MOEA said the decline is mainly caused by a global eco­nomic slow­down and the rise of China’s do­mes­tic sup­ply chain.

Tai­wan’s share of China’s im­port mar­ket has been fall­ing, from 11.31 per­cent in 2005 to 7.76 per­cent in 2014.

In 2005, elec­tronic and elec­tri­cal prod­ucts and ma­chin­ery ac­counted for 26.49 per­cent and 14.6 per­cent, re­spec­tively of China’s to­tal im­ports, but both fig­ures dropped to 21.66 per­cent and 9.15 per­cent, re­spec­tively, in 2014.

Mean­while, petroleum, nat­u­ral gas and coal as well as min­eral sands ac­counted for 9.73 per­cent and 3.93 per­cent, re­spec­tively of China’s to­tal im­ports in 2005, but the fig­ures in­creased to 16.12 per­cent and 6.94 per­cent, re­spec­tively, in 2014. Th­ese com­modi­ties are not among Tai­wan’s main ex­ports as it is rel­a­tively poor in nat­u­ral re­sources.

Newspapers in English

Newspapers from Taiwan

© PressReader. All rights reserved.