Fri, Jul 30, 2004 - Page 10 News List

Indirect cross-strait trade up 37.9%

AFP , TAIPEI

Indirect trade between Taiwan and China in the five months to May rose 37.9 percent from a year earlier as investment from Taiwan surged despite increased cross-strait tension during this period, official data showed yesterday.

The value of trade reached US$23.84 billion, accounting for 17.7 percent of the nation's total external trade during the period, up from 16.6 percent a year earlier, the Board of Foreign Trade said.

For the five-month period, the nation posted a trade surplus with China of US$11.56 billion, up 24.6 percent from a year earlier, it said.

Exports

Exports to China during this period rose 33.2 percent to US$17.7 billion, while imports were up 53.3 percent at US$6.14 billion.

The board attributed the growth to higher demand for electronic components, machinery and plastic products in China, which has been the nation's largest market since late 2002.

The US$17.7 billion in shipments to China accounted for 25.5 percent of total exports in the five-month period, compared with 24 percent a year earlier, it added.

slowdown

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

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