Taiwan the 4th biggest exporter to China, says government stats dep’t
Exports from Taiwan to China accounted for 8.5 percent of China’s total inbound shipment in the first seven moths of 2015, making it the nation’s fourth largest importer, the DirectorateGeneral of Budget, Accounting and Statistics ( DGBAS) reported on Saturday.
China’s top three importers during the period are South Korea (10.1 percent), the United States (9 percent) and Japan (8.6 percent), with Germany (5.4 percent) rounding up the top five, according to a DGBAS report issued on Aug. 25, which cited statistics released by China’s General Administration of Customs.
In 2004, mainland China’s top five importers were Japan (16.8 percent), the European Union (12.5 percent), Taiwan (11.5 percent), the Association of Southeast Asian Nations (11.2 percent) and South Korea (11.1 percent).
With the rise of the “red supply chain,” a fast-growing cluster of high-tech components culti- vated by Beijing, the impact of Taiwan’s foreign direct investment in China on bilateral trade has dwindled in recent years and the share of Taiwan’s imports fell to 8.5 percent in the first seven months of 2015, compared with 11.3 percent in 2005, the DGBAS said.
In the meantime, Japan’s imports in China fell to 8.6 percent from 15.2 percent in 2005 and South Korea to 10.1 percent from 11.6 percent, while commodities exporter Australia increased its share from 2.4 percent to 4.6 percent in the same period.
The growth in China’s dollardenominated imports decreased to 0.4 percent year-on-year in 2014 and fell even further to minus 14.6 percent in the first seven months of 2015, compared with double-digit growths from 2002-2011, the DGBAS said.
This was caused by excess factory production, increase in selfproduced goods and the effect of import substitution policy in China, the DGBAS said.