Taiwan's imports from Chinese mainland expected to exceed historic US$10bln

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Last updated at: (Beijing Time) Tuesday, December 02, 2003

Taiwan's imports from Chinese mainland expected to exceed historic US$10bln

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According to Taiwan's "Ministry of Economic Affairs", due to the competitive exports from China's mainland and a continuous hike of imports of various countries and regions from China's mainland, Taiwan's imports from China's mainland will be expected to exceed 10 billion US dollars for the first time. China's mainland will thus become Taiwan's third largest import source following Japan and the United States.

Statistics show that since the year 1998 when indirect imports from the Chinese mainland were allowed into Taiwan and the expansion of items approved, the imports value of Taiwan from China's mainland saw an increase year by year. The occupancy of the products from China's mainland in Taiwan's market has jumped from 4.4 percent to 8.4 percent over the past three years and the ranking of China's mainland in Taiwan's import market has also jumped from the 7th in 1997 to the present 3rd place.

The value of Taiwan's imports from the mainland in the previous 3 quarters of this year approached 7.7 billion US dollars with a growth rate of 36 percent. What is notable is that from the year 2003, products such as beer, toys, office and household sticks of wooden furniture and laptops from the Chinese mainland have jumped to the first place in Taiwan's import market.

Taiwan's "Ministry of Economic Affairs" analyzed that the sharp increase of imports from the mainland is mainly because China's mainland has become the largest manufacturing base of standardized finished industry products, which are exported to the whole world with competitive prices. Currently, most industrialized countries have witnessed a hike in their imports from China's mainland.

The "Ministry of Economic Affairs" estimates that with the present growth rate of Taiwan's imports from the mainland, it is foreseeable that the total value of Taiwan's imports from the mainland in 2003 will be able to surpass for the first time a historic record of 10 billion US dollars.

By PD Online staff Gao Lanrong

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