Taiwan exports in 2002 were worth US$135.1 billion, making the island the world's 14th-largest exporter and the fifth-largest in Asia, according to the latest report by the World Trade Organization (WTO).
The figure was up by 7 percent from the country's 2001 level, the WTO 2003 report on foreign trade statistics showed. At the same time, Taiwan was the world's 16th-largest importer by having bought products worth US$112.6 billion last year, retaining its 2001 ranking. The country's 2002 import volume was up by 5 percent from its 2001 level.
In terms of service-oriented foreign trade, Taiwan exports reached US$21.1 billion in 2002, globally ranked 21st, while its imports stood at US$24.3 billion, the world's 15th.
Among Asian states, Japan remained as the region's largest foreign trader, followed by China, Hong Kong, South Korea, Taiwan and Singapore, the report said. Except for South Korea, the foreign trade growth rates posted by Taiwan, Hong Kong and Singapore -- the richer countries in Asia, are all lower than the region's average growth rate.
According to the report, developing countries in Asia posted an average growth rate of 5.5 percent last year in gross domestic product, but Taiwan, Hong Kong and Singapore performed worse in this field. Deteriorating employment and investment are still the major concerns, it said.
China exported goods worth US$325.6 billion last year, representing a 22 percent increase over 2001, while its imports also grew by 21 percent to US$295.2 billion, ranking fifth and sixth in the world, respectively.
The US was the world's No. 1 exporter and importer in 2002, with its outbound and inbound shipments amounting to US$699.39 billion and US$1.2 trillion, the report said.
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