Exports rose in December at their fastest pace in more than a year, climbing to a record NT$474.67 billion (US$14.04 billion) as electronics makers shipped more notebook computers, flat-panel displays and other goods, the government said yesterday.
For the full year of 2003, exports rose 10.4 percent from the previous year to NT$4.87 trillion (US$144.24 billion), the highest level in three years as a global economic recovery bolstered demand, the Ministry of Finance said.
The ministry said exports in December, which registered their fifth consecutive double-digit year-on-year growth, were boosted by gains of more than 21 percent in shipments to Hong Kong and China, as well as to Southeast Asian nations and Europe.
Exports, which account for about half of Taiwan's gross domestic product, are rising as economic growth gathers pace in China, the US and other key export markets.
The NT dollar's 15 percent slide against the euro and 7.7 percent fall against the yen in 2003 also helped the nation's manufacturers increase sales to Europe and Japan.
Sales to China and Hong Kong rose 30 percent in December to US$5 billion, the ministry said.
Many goods headed for China go through Hong Kong because of restrictions on trade between China and Taiwan. Shipments to the US increased 9.4 percent to US$2.4 billion.
Sales to Europe rose 22 percent to US$2.1 billion and those to Japan increased 9.1 percent to US$1.1 billion.
Exports of computer chips and other electronic products, which make up the biggest share of Taiwan's overseas sales, rose 33 percent to US$3.2 billion.
Sales of mobile phones and other telecommunications goods fell 3.6 percent to US$1.3 billion, according to the ministry.
Meanwhile, December imports surged 33.4 percent from the year before to NT$446.27 billion (US$13.2 billion), the ministry said.
For the whole of last year, imports increased 13.1 percent to NT$4.30 trillion (US$127.26 billion).
The December trade surplus was NT$28.60 billion (US$846.2 million).
Trade surplus for all of 2003 was NT$574.07 billion (US$16.98 billion), the ministry said.
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