Thu, Jul 01, 2004 - Page 10 News List

Cross-strait trade increases by 33.5%

AFP , TAIPEI

Trade between Taiwan and China in the four months to April rose 33.5 percent from a year earlier to US$18.35 billion on the back of growing cross-strait investment, official data showed yesterday.

Exports to China during the period rose 29 percent to US$13.64 billion, which accounted for 25.3 percent of the nation's total exports compared with 24 percent a year ago, the Board of Foreign Trade said.

Imports jumped 48.4 percent to US$4.71 billion, or 9.2 percent of total imports in the period compared with 8.1 percent a year earlier, the board said.

The January to April bilateral trade accounted for 17.5 percent of total external trade during the period, compared with 16.5 percent a year earlier, it said.

For the four-month period, the country registered a trade surplus with China of US$8.93 billion, up 20.7 percent from a year earlier, it said.

The board attributed the growth to increased demand for electronic components, machinery and plastic products in China.

Since the end of April, Beijing has imposed a series of measures to cool its economy, particularly in the iron, steel and real estate industries. It recently expanded the list of sectors to the petrochemical, textile, pharmaceutical and light industries.

China is the nation's largest market while Taiwanese are the leading investors in China with total investment estimated at US$70 billion.

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