Taiwan’s ranking in merchandise exports improved by one notch to the 17th-largest by volume in the world last year, the Bureau of Foreign Trade (BOFT) said yesterday, citing the latest WTO report.
However, Taiwan’s services trade volume and export rankings fell to 27th and 26th place respectively in the world last year, from 26th place and 24th place the previous year, the bureau said in a statement.
The nation’s service import volume edged up 2 percent last year, holding the same ranking at the 28th largest in the world, it said.
The bureau said the WTO report indicated that Taiwan’s overall foreign trade power remained resilient in the global market, despite declining services trade and export rankings.
Last year, the world’s top three services trade volume and importing countries were the US, Germany and China, while the world’s top three services trade exporting countries were the US, the UK and Germany.
Global trade volume last year grew 2 percent from 2011, falling short of the WTO’s previous estimate of 3.7 percent and hitting its lowest level since 1981.
This year, global trade volume could increase 3.3 percent, and 5 percent next year, according to the WTO.