Taiwan exports and imports in December posted their best readings since the onset of the global financial tsunami, paving the way for improvements in 2010. “Exports hit a 14-month high of US$20.03 billion and imports registered US$18.38 billion, reaching the top figure in 15 months,” Lin Lee-jen, director of the Department of Statistics under the Ministry of Finance, said Thursday. Compared with the year before, exports in December soared 46.9 percent, the highest since the 48.1-percent increase recorded in June 1987, local English daily Taiwan Today reported Friday. The 56.2-percent surge claimed by imports was the best since a 60.3-percent jump witnessed in July 1988. These statistics excluded seasonal factors as year-on-year changes of trade data during the Lunar New Year holidays in January or February could be easily affected by fewer working days. “Exports and imports managed year-on-year growth for two months in a row mainly thanks to economic recovery on the global front and a low comparison basis,” Lin said. Shipments to China and Hong Kong totaled US$8.45 billion, a level unseen in 16 months to those destinations. Taiwan companies delivered products worth US$3.07 billion to six members of the Association of Southeast Asian Nations and US$2.31 billion to Europe, representing a 14-month high for both. Exports to the United States amounted to US$2.26 billion, the best in 13 months. Imports of capital equipment in December reached US$2.82 billion and those for agricultural and industrial raw materials came to US$13.93 billion. Imports of antiques, vaccines and sugar helped boost total consumer goods to US$1.63 billion, the highest since the US$1.86 billion registered in December 1998. For the whole of 2009, the trade surplus skyrocketed 91.3 percent to an all-time high of US$29.04 billion as the decline experienced by imports was worse than that for exports, the director said. Exports tumbled 20.3 percent to US$203.7 billion and imports plunged 27.4 percent to US$174.66 billion. Both suffered their worst-ever contraction. Exports to mainland China, including Hong Kong, for the year sank 15.9 percent, those to the United States were down 23.5 percent and Europe was 24.6 percent lower. All were unprecedented. The combined mainland market was the largest for Taiwan's suppliers as the area accounted for 41.1 percent of the island's total exports. While basic metal, mineral products, electronics, optical and machinery sectors can be blamed for the dip in exports for 2009, raw materials and equipment were the main sectors behind the dive in imports. The import value of agricultural and industrial raw materials plummeted 30.5 percent in 2009 amid a nosedive of 40.5 percent for crude oil. “In terms of barrels, oil imports slipped only 1.9 percent, but the average price per barrel fell 39.3 percent,” Lin said.
