Taiwan's foreign trade rose 9.2 per cent in 2007 owing to the government's trade-promotion measures to emerging and oil-producing countries, the Bureau of Foreign Trade (BOFT) said on Monday, according to dpa. In 2007, Taiwan's foreign trade totalled 466 billion US dollars, up 9.2 per cent from 2006. Taiwan's exports hit 246.7 billion US dollars, up 10.1 per cent year-on-year, while imports reached 219.3 billion US dollars, up 8.2 per cent year-on-year. China has replaced the United States as the top export market for Taiwan, the report said. In 2007, Taiwan's exports to China including Hong Kong rose 12.6 per cent year-on-year, accounting for 40.7 per cent of the island's total exports. Thanks to Taiwan's trade-promotion measures targeting 10 "newly emerged" economies and two oil-exporting nations, Taiwan's exports to these countries achieved double-digit growth, the report said. Taiwan's exports to India grew 59.2 per cent, Vietnam 4 per cent, Spain 37 per cent, Russia 33.6 per cent, Brazil 29.8 per cent, Turkey 22.2 per cent, Saudi Arabia 38.4 per cent and United Arab Emirates 31.9 per cent, said DPA.
