Taiwan’s exports totaled US$479.4 billion last year, accounting for 1.9 percent of global volume, or 17th in the world, down one place from a year earlier, the Ministry of Finance said yesterday, citing WTO data.
The drop in ranking came amid an increase in global trade by 11.5 percent to US$24.9 trillion, despite a global slowdown induced by inflation and monetary tightening, the ministry said.
China retained first place with a trade volume of US$3.59 trillion, or a 14.4 percent share, followed by the US at US$2.06 trillion, Germany’s US$1.66 trillion, Japan’s US$746.9 billion and South Korea’s US$683.6 billion, it said.
Photo: CNA
Hong Kong ranked 10th with US$609.9 billion and Singapore was 16th with US$515.8 billion, putting Taiwan behind major trade rivals.
China in 2009 overtook Germany and the US as the world’s largest exporter, as it has grown to become a major part of global supply chains due to its demographic advantages, the ministry said.
China retained its top spot despite COVID-19 lockdowns of major Chinese cities for most of last year.
Taiwan’s global share of exports rose 0.3 percentage points, while Japan and Germany lost ground, the ministry said.
Taiwan, home to the world’s largest chip suppliers, has been affected by a global inventory adjustment cycle for technology products since the second half of last year, it said.
The US topped the list of nations for most imports followed by China, Germany, the Netherlands and Japan, it said.
UNPRECEDENTED PACE: Micron Technology has announced plans to expand manufacturing capabilities with the acquisition of a new chip plant in Miaoli Micron Technology Inc unveiled a newly acquired chip plant in Miaoli County yesterday, as the company expands capacity to meet growing demand for advanced DRAM chips, including high-bandwidth memory chips amid the artificial intelligence boom. The plant in Miaoli County’s Tongluo Township (銅鑼), which Micron acquired from Powerchip Semiconductor Manufacturing Corp (力積電) for US$1.8 billion, is expected to make a sizeable capacity contribution to the company from fiscal 2028, the company said in a statement. It would be an extended production site of Micron’s large-scale manufacturing hub in Taichung, the company said. As the global semiconductor industry is racing to reach US$1 trillion
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
Taiwan’s food delivery market could undergo a major shift if Singapore-based Grab Holdings Ltd completes its planned acquisition of Delivery Hero SE’s Foodpanda business in Taiwan, industry experts said. Grab on Monday last week announced it would acquire Foodpanda’s Taiwan operations for US$600 million. The deal is expected to be finalized in the second half of this year, with Grab aiming to complete user migration to its platform by the first half of next year. A duopoly between Uber Eats and Foodpanda dominates Taiwan’s delivery market, a structure that has remained intact since the Fair Trade Commission (FTC) blocked Uber Technologies Inc’s
Memory chip stocks extended their losses yesterday after Alphabet Inc’s Google publicized research that could allow more efficient use of the storage needed for artificial intelligence (AI) development. SK Hynix Inc and Samsung Electronics Co, South Korean leaders in the market, fell more than 6 percent and about 5 percent respectively in Seoul. In the US, Micron Technology Inc, Western Digital Corp and Sandisk Corp slid more than 2 percent in pre-market trading, after they all closed lower on Wednesday. Memory companies have been on a tear in recent months as the rapid development of AI infrastructure triggered a spike in chip
RSS