Taiwan major trade indicators scored historic highs in 2007

 The Bureau of Foreign Trade (BOFT) has just announced that, according to the Monthly Customs Statistics on Exports and Imports issued by the Department of Statistics of the MOF on January 07, 2008, Taiwan total foreign trade amount in December last year, compared with December 2006, grew 23.3% to US$44.74 billion.  Exports grew 19.8% to US$23.48 billion while imports grew 27.5% to US$21.26 billion, with the above three trade indicators showing two-digit growth.  The trade surplus saw a decrease of 24.2% to US$2.22 billion.  Taiwan total foreign trade amount from January to December in 2007 increased 9.2% to US$466.06 billion compared with same period in 2006; total exports and imports amounted to US$246.72 billion and US$219.34 billion, with a growth rate of 10.1% and 8.2%, respectively; our trade surplus saw a 28.4% increase to US$27.38 billion.  This demonstrates that Taiwan total foreign trade amount, exports, imports and trade surplus all hit historic highs in 2007; furthermore, export growth reached two-digit growth.  Taiwan foreign trade again showed excellent performance in 2007.    

Exporting is the main driving force for Taiwan’s economic growth, and the global economic situation has a direct impact on Taiwan exports and its economic development.  The US subprime mortgage problems caused turbulence in the global financial market as well as a credit crunch, and the soaring prices of crude oil and raw materials brought about a 6.8%, 7.5%, 7.6% export growth rate from January to May, January to June, January to July in 2007.  But under the joint efforts of the BOFT, the Taiwan External Trade Development Council, trade related organizations, overseas offices boosting trade promotion, the “Branding Taiwan Development Plan”, and the “Program for Assisting Automobile Parts Traders”, Taiwan foreign trade not only retained its trade prosperity from 2006, but continued to score historic highs in total foreign trade amounts, exports, imports and a trade surplus in 2007, reaching its predetermined goal of a two-digit growth rate in exports.  Taiwan trade definitely showed excellent performance.

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