Taiwan's Export Value Hit Second Highest on Record of US$303.22B. in 2013

Taiwan's export value reached US$303.22 billion in 2013, the second highest of its kind and edging up 0.7% from a year earlier, higher than the 0.4% predicted by the Directorate General of Budget, Accounting & Statistics (DGBAS), with the trade surplus growing 7.9% to hit a record high of US$33.14 billion, according to the statistics released by Ministry of Finance (MOF).

In December 2013, exports declined 1.9% year on year to US$25.59 billion, due mainly to the drop in exports of ICT (information communication technology) and electronic products, and optical devices. However, machines, plastic & rubber products, and basic metal items presented an uptrend during the month, with exports of machines up by 16.8% to US$1.88 billion, the second highest of its kind, and particularly machine tools rising a sizable 21.6%.

In the same month the imports of capital equipment, industrial & agricultural materials and consumer goods all posted rises. It's noteworthy that the import of motorized vehicles set a record monthly high of US$2.71 billion and that of capital equipment came to US$4.09 billion, the third highest of its kind.

M.T. Yeh, director general at the Department of Statistics of MOF, indicates that the export in Q1, 2014 may see a minimal growth of 0.26% due to a week-long break during the Chinese New Year holidays in January, with exports in the second quarter to rise remarkbly as quite a few new models of smart phones will be launched.

To reinforce Taiwan's export strength, the Bureau of Foreign Trade will help Taiwanese manufacturers to integrate marketing channels and explore more export outlets, especially for such industries as eco-friendly items, functional textiles, handheld smart devices, e-commerce, flat TV, and vehicular communication products. (JL)