Business News
Taiwan's exports, imports jump sharply in January
Feb 8, 2010, 12:52 GMT
Taipei - Taiwan's exports and imports leaped to a three-decade high in January, posting record increases thanks to the global economic recovery, the Finance Ministry said Monday.
In January, Taiwan's exports totalled 21.75 billion US dollars, up 75.8 per cent from the same period last year, marking its biggest single-month increase since August 1976, the ministry said in a statement.
Imports amounted to 19.25 billion US dollars, representing a 114.7 per cent year-on-year increase, the biggest since September 1974, it said.
The ministry cited the bottoming out of the world's financial crisis, strong increases in global demand and the relatively low comparison basis against last year as the major reasons for the sharp increases.
China remained Taiwan's biggest export market, with the island shipping goods worth 9.54 billion US dollars, accounting for 43.9 per cent of the total value of Taiwan's exports.
Europe followed second, buying goods worth 2.43 billion dollars from Taiwan, or 11.2 per cent of the island's exports, followed by the United States with 2.22 billion dollars and Japan's 1.47 billion dollars.
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