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ASEAN exports surpass those to the US

Taiwan's exports to the six major members of ASEAN continue to increase as a result of economic growth and increased foreign investment in the region, Ministry of Finance officials said yesterday.

Most ASEAN countries, particularly Vietnam and Malaysia, have witnessed brisk growth in their economies over the past six months, and Taiwan's exports to the six major ASEAN countries -- Indonesia, Thailand, Malaysia, Singapore, the Philippines and Vietnam -- increased to US$16.16 billion in the January to last month period, up 8.9 percent year-on-year, said Lee Li-hsueh (李麗雪), director-general of the ministry's Department of Statistics.

ASEAN-bound exports accounted for 14.2 percent of Taiwan's total exports in the first six months of this year, surpassing those heading to the US, to which the nation exported US$15.35 billion worth of products and services, a decrease of 1.1 percent year-on-year, Lee said.

Lee said that exports to the six ASEAN nations have never before surpassed the nation's exports to the US.

Meanwhile, Wu Fu-cheng (吳福成), analyst in charge of international affairs at the Taiwan Institute of Economic Research (台經院), said it showed that the government's new "Go South" policy has begun to bear fruit.

Greater investment in Vietnam and Malaysia has led to bigger exports to these countries, Wu said.
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