Tai­wan re­mains 10th largest trad­ing part­ner of Amer­ica

The China Post - - TAIWAN BUSINESS -

Tai­wan re­mained the 10th largest trad­ing part­ner of the United States in the first half of 2015, ac­cord­ing to sta­tis­tics re­leased by the U.S. Depart­ment of Com­merce on Mon­day.

Two-way trade in goods be­tween Tai­wan and the U.S. in the first half of the year to­taled US$33.57 bil­lion, up 0.5 per­cent from a year ear­lier.

Tai­wan’s ex­ports to the U.S. mar­ket grew 2.9 per­cent year-onyear to US$20.71 bil­lion dur­ing the pe­riod, while Tai­wan’s im­ports from the U.S. to­taled US$12.87 bil­lion, down 3.1 per­cent from a year ear­lier.

That gave Tai­wan a trade sur­plus of US$7.84 bil­lion with Washington, up 14.6 per­cent from a year ear­lier, the Depart­ment of Com­merce said.

Tai­wan was the United States’ 14th largest ex­port mar­ket and 11th big­gest source of im­ports, and it re­tained its po­si­tion held in 2014 as Amer­ica’s 10th largest trad­ing part­ner, the data showed.

Canada was the U.S.’s big­gest mer­chan­dise trad­ing part­ner, with bi­lat­eral trade of US$294.2 bil­lion.

It was fol­lowed by China ( US$ 282.6 bil­lion), Mexico (US$262.5 bil­lion), Ja­pan ( US$99 bil­lion), Ger­many (US$85.3 bil­lion), South Korea (US$59.1 bil­lion), the United King­dom (US$57.8 bil­lion), France ( US$38.5 bil­lion), and In­dia (US$34.1 bil­lion), the sta­tis­tics showed.

In the six months, the U.S. ex­ported US$55.9 bil­lion worth of goods to China, against im­ports of US$226.7 bil­lion, the data showed.

U.S. ex­ports to China were only 4.35 times greater than its ex­ports to Tai­wan de­spite China hav­ing a pop­u­la­tion 58 times as big as Tai­wan’s.

The ra­tio was down from 2014, when China’s ex­ports to the U.S. were 4.63 times higher than Tai­wan’s, which some an­a­lysts said in­di­cated Tai­wan’s grow­ing eco­nomic clout that the U.S. can­not af­ford to ig­nore.

The an­a­lysts said the U.S. gov­ern­ment has paid con­sid­er­able at­ten­tion to Tai­wan’s eco­nomic power be­cause many Tai­wanese in­vestors op­er­at­ing in China have been ac­tive in the bi­lat­eral trade be­tween the United States and China.

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