Taiwan’s reliance on China as its biggest export market continued to rise, as 32.2 percent of its exports in September, totaling US$6.14 billion in value, went to China, statistics released by the Bureau of Foreign Trade (BOFT) showed on Monday.
However, the statistics showed that the economic downturn may have affected two-way trade.
In the first nine months of this year, two-way trade between Taiwan and China amounted to US$60.35 billion, down 29.7 percent from that of the same period last year, statistics showed.
In January-to-September, cross-strait trade accounted for 22.7 percent of Taiwan’s foreign trade in value.
During the nine-month period, Taiwan’s exports to China amounted to US$43.45 billion, down 28.6 percent from that of the same period of last year; imports from China were valued at US$16.9 billion, down 32.4 percent year-on-year.
In September, Taiwan’s exports to China registered a record high for the past 12 months at US$6.14 billion, a slight decrease of 0.3 percent from that of the same month last year.
Imports from China in September were valued at US$2.49 billion, also a single month high for the past 12 months, though a 7.5 percent drop from that of the same month a year ago.
Statistics on export orders released by the Ministry of Economic Affairs showed that after months of sluggishness, export orders from China were picking up since July and has been gaining momentum, with month-on-month growth at 2.2 percent in July, 7.3 percent in August, 9.47 percent in September and 19.6 percent in October.
Meanwhile, statistics compiled by Chinese customs authorities indicate that Japan, South Korea and Taiwan were the three major sources of supplies, with January-to-September imports from Japan amounting to US$92.35 billion, from South Korea totaling US$72.55 billion, and from Taiwan valued at US$59.71 billion.
Chinese customs statistics showed that Taiwan remained China’s No. 1 supplier of electrical appliances and parts and second-largest supplier of optical products and plastics products, although Taiwan’s exports to that market dropped by 29.2 percent in value in the January-to-September period this year.
Nissan Motor Co has agreed to sell its global headquarters in Yokohama for ￥97 billion (US$630 million) to a group sponsored by Taiwanese autoparts maker Minth Group (敏實集團), as the struggling automaker seeks to shore up its financial position. The acquisition is led by a special purchase company managed by KJR Management Ltd, a Japanese real-estate unit of private equity giant KKR & Co, people familiar with the matter said. KJR said it would act as asset manager together with Mizuho Real Estate Management Co. Nissan is undergoing a broad cost-cutting campaign by eliminating jobs and shuttering plants as it grapples
TEMPORARY TRUCE: China has made concessions to ease rare earth trade controls, among others, while Washington holds fire on a 100% tariff on all Chinese goods China is effectively suspending implementation of additional export controls on rare earth metals and terminating investigations targeting US companies in the semiconductor supply chain, the White House announced. The White House on Saturday issued a fact sheet outlining some details of the trade pact agreed to earlier in the week by US President Donald Trump and Chinese President Xi Jinping (習近平) that aimed to ease tensions between the world’s two largest economies. Under the deal, China is to issue general licenses valid for exports of rare earths, gallium, germanium, antimony and graphite “for the benefit of US end users and their suppliers
PERSISTENT RUMORS: Nvidia’s CEO said the firm is not in talks to sell AI chips to China, but he would welcome a change in US policy barring the activity Nvidia Corp CEO Jensen Huang (黃仁勳) said his company is not in discussions to sell its Blackwell artificial intelligence (AI) chips to Chinese firms, waving off speculation it is trying to engineer a return to the world’s largest semiconductor market. Huang, who arrived in Taiwan yesterday ahead of meetings with longtime partner Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), took the opportunity to clarify recent comments about the US-China AI race. The Nvidia head caused a stir in an interview this week with the Financial Times, in which he was quoted as saying “China will win” the AI race. Huang yesterday said
Dutch chipmaker Nexperia BV’s China unit yesterday said that it had established sufficient inventories of finished goods and works-in-progress, and that its supply chain remained secure and stable after its parent halted wafer supplies. The Dutch company suspended supplies of wafers to its Chinese assembly plant a week ago, calling it “a direct consequence of the local management’s recent failure to comply with the agreed contractual payment terms,” Reuters reported on Friday last week. Its China unit called Nexperia’s suspension “unilateral” and “extremely irresponsible,” adding that the Dutch parent’s claim about contractual payment was “misleading and highly deceptive,” according to a statement
RSS