Germany’s exports to Taiwan rose 7.3 percent to NT$142.2 billion (US$4.82 billion) in the first half of this year, although the European nation’s overall exports dropped 13.4 percent to NT$20 trillion, indicating that Taiwan has gained importance as a trading partner, the German Trade Office Taipei said yesterday.
Taiwan showed the highest growth rate among Germany’s major trading partners in Asia, leaving its regional rivals behind, the office said.
Exports to South Korea increased by 4.9 percent during the same period, while shipments to Singapore and Hong Kong declined by 10.7 percent and 18.1 percent respectively, it said.
Taiwan is one of the very few economies that managed to increase its imports of German goods and commodities during the COVID-19 pandemic, it said.
Effective disease-prevention measures in Taiwan accounted for the showing, allowing it to prevent a lockdown, and keep companies and production facilities running normally, the office said.
“With a trade balance of NT$309 billion in the first half of the year, German-Taiwanese trade relations have improved and gained significance,” German Trade Office Taipei Executive Director Axel Limberg said.
Taiwan would continue to serve as a good market for German capital goods due to heavy investments by local companies that are moving their supply chains back to Taiwan from China, Germany Trade and Invest director for Taiwan and Philippines Asia Pacific Alexander Hirschle said.
Consumer goods with the “Made in Germany” seal of approval enjoy an excellent reputation and are especially popular now that wealthy customers are spending more money domestically due to the travel restrictions in place due to the pandemic, Hirschle said.
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