Taiwan Advances to World's 16th Largest Exporter in 2010

Taipei, March 10, 2011 (CENS)--Thanks to ballooning cross-strait trade, Taiwan's export value grew to US$274.6 billion in 2010, accounting for 1.9 percent of aggregate global exports and making Taiwan the world's 16th largest exporter, according to the statistics released by the World Trade Organization (WTO).

Taiwan's corresponding ranking was 18th in 2008 and 17th in 2009. Last year the ranking advanced one notch again to 16th, compared to South Korea's 7th position, Hong Kong 12th and Singapore 14th.

A senior official at Taiwan's Bureau of Foreign Trade (BOFT) indicated that Taiwan has experienced rapid growth in trade with China since the Kuomintang's Ma Ying-jeou was inaugurated as Taiwan's President on May 20, 2008, due to improved relationship across the Taiwan Strait.

The official said that the inking of economic cooperation framework agreement (ECFA) on June 29, 2010 between Taiwan and mainland China has further accelerated Taiwan's trade with the mainland. Taiwan's role in global export may keep gaining strength from the cross-strait trade.

Last year the world's top five exporters were, in sequence, China, the United States, Germany, Japan and Holland.