BUSINESS Taiwan's exports to mainland hit new high

BUSINESS

Taiwan's exports to mainland hit new high

Xinhua

09:13, December 08, 2020

Photo: Unsplash

TAIPEI, Dec. 8 (Xinhua) -- Taiwan's exports to the mainland and Hong Kong reached 136.74 billion U.S. dollars in the first 11 months of this year, a new high for the same period, the island's finance authority said Monday.

The figure meant a 14-percent increase year on year and accounted for 43.8 percent of Taiwan's total exports in this period, the authority said in a press release.

In November alone, the island's exports to the mainland and Hong Kong reached 14.46 billion U.S. dollars, also the highest of the same month in previous years, and up by 17.2 percent year on year, it said.

The number accounted for 45.2 percent of Taiwan's total exports in November.

The island's imports from the mainland and Hong Kong in the first 11 months of this year increased by 10.2 percent year on year to 58.42 billion U.S. dollars.

In November, the island's imports from the mainland and Hong Kong soared by 35.7 percent year on year to 6.71 billion U.S. dollars.

Taiwan's total exports in November reached 31.99 billion U.S. dollars, up by 12 percent year on year, and total imports climbed by 10 percent year on year to 26.72 billion U.S. dollars.

The authority attributed the increase of exports to the booming new technology industry despite the continuous economic slowdown amid the COVID-19 pandemic.

It said that the island's exports would probably maintain a favorable momentum thanks to the shopping season and continued demand for new communication and computer technologies.

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