Taiwan's trade with China grew to US$16 billion in the first eight months of 1999, up 7.8 percent from the same period in 1998, the Board of Foreign Trade said yesterday.
The trade surplus with China from January to August totalled US$10.34 billion, up 10 percent from a year earlier, the board said in a statement.
Bilateral trade -- conducted indirectly via Hong Kong and other places because of Taiwan's ban on direct ties with the mainland -- represented 10.8 percent of its total external trade during the period.
Taiwan's exports to China were up 8.7 percent from a year earlier at US$13.17 billion in the January-August period, while imports rose a year-on-year 3.9 percent to US$2.83 billion.
The board attributed the trade surplus to sharper growth in exports to China, including electronic products, machinery appliances, plastics and steel products.
Regional economic recovery also fueled demand from China, the board said.
In August alone, Taiwan's exports to China saw double-digit growth of 18.1 percent to US$1.92 billion compared with August 1998, while imports jumped 21.1 percent to US$397 million.
Taiwan bans all direct contact with China -- but allows indirect trade and investment activities. Mostly, these are channeled through offshore companies set up in Hong Kong.
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