The nation's trade surplus hit an all time high at US$27.38 billion last year, while exports and imports also hit record highs last month, growing 19.8 percent and 27.5 percent respectively to US$23.48 billion and US$21.26 billion.
"Demand for petrochemical products, steel and opto-electronic equipment was especially strong," said Lee Li-Shue (
Exports to the six ASEAN nations surged 42.4 percent to US$10.71 billion last month, the ministry's statics showed.
growth
Exports to major markets such as China and Hong Kong, the US and South Korea all saw double-digit growth.
"Robust economic growth in emerging countries is driving their hunger for consumer products and materials for infrastructure construction," said Hsu Kuo-an (
Taiwan's exports to the Middle East, Africa and India grew by 76.8 percent, 105.6 percent and 197.5 percent respectively year-on-year during the same period.
imports
Meanwhile, imports hit a new high last month on rising oil and raw material prices.
On average, the nation paid US$85.98 per barrel of oil imported last month, up 55 percent from US$55.45 one year earlier.
As of last month, Taiwan has enjoyed a trade surplus for 22-straight months. But the US$2.22 billion surplus is down 24.2 percent year-on-year.
Despite the jubilant mood among officials, analysts are not as optimistic about economic prospects this year.
"The US economic slowdown will inevitably have an impact on ... emerging markets which have enjoyed spectacular performances in recent years. Even if we see growth in 2008 exports, the percentage is almost certainly going to be in single digits," Hsu said.
not immune
Chang Yu-hui (
"Although we have seen an increase of demand from emerging countries, they cannot offset the role of the US as a major global consumer. Let's not forget that those emerging nations feed off [the US market], too," Chang said. "So far, Chinese and Indian economies have remained robust. Whether China can continue to create demand for our exports remains to be seen."
China and Hong Kong together account for more than 40 percent of Taiwan's exports, while the US market's contribution is less than 15 percent, statistics show.
Nvidia Corp yesterday unveiled its new high-speed interconnect technology, NVLink Fusion, with Taiwanese application-specific IC (ASIC) designers Alchip Technologies Ltd (世芯) and MediaTek Inc (聯發科) among the first to adopt the technology to help build semi-custom artificial intelligence (AI) infrastructure for hyperscalers. Nvidia has opened its technology to outside users, as hyperscalers and cloud service providers are building their own cost-effective AI chips, or accelerators, used in AI servers by leveraging ASIC firms’ designing capabilities to reduce their dependence on Nvidia. Previously, NVLink technology was only available for Nvidia’s own AI platform. “NVLink Fusion opens Nvidia’s AI platform and rich ecosystem for
WARNING: From Jan. 1 last year to the end of last month, 89 Taiwanese have gone missing or been detained in China, the MAC said, urging people to carefully consider travel to China Lax enforcement had made virtually moot regulations banning civil servants from making unauthorized visits to China, the Control Yuan said yesterday. Several agencies allowed personnel to travel to China after they submitted explanations for the trip written using artificial intelligence or provided no reason at all, the Control Yuan said in a statement, following an investigation headed by Control Yuan member Lin Wen-cheng (林文程). The probe identified 318 civil servants who traveled to China without permission in the past 10 years, but the true number could be close to 1,000, the Control Yuan said. The public employees investigated were not engaged in national
ALL TOGETHER: Only by including Taiwan can the WHA fully exemplify its commitment to ‘One World for Health,’ the representative offices of eight nations in Taiwan said The representative offices in Taiwan of eight nations yesterday issued a joint statement reiterating their support for Taiwan’s meaningful engagement with the WHO and for Taipei’s participation as an observer at the World Health Assembly (WHA). The joint statement came as Taiwan has not received an invitation to this year’s WHA, which started yesterday and runs until Tuesday next week. This year’s meeting of the decisionmaking body of the WHO in Geneva, Switzerland, would be the ninth consecutive year Taiwan has been excluded. The eight offices, which reaffirmed their support for Taiwan, are the British Office Taipei, the Australian Office Taipei, the
DANGEROUS DRIVERS: The proposal follows a fatal incident on Monday involving a 78-year-old driver, which killed three people and injured 12 The Ministry of Transportation and Communications yesterday said it would lower the age for elderly drivers to renew their license from 75 to 70 as part of efforts to address safety issues caused by senior motorists. The new policy was proposed in light of a deadly incident on Monday in New Taipei City’s Sansia District (三峽), in which a 78-year-old motorist surnamed Yu (余) sped through a school zone, killing three people and injuring 12. Last night, another driver sped down a street in Tainan’s Yuching District (玉井), killing one pedestrian and injuring two. The incidents have sparked public discussion over whether seniors