Taiwan's Small Exporters Sell on eBay to 48 Nations on Average

Taiwan's small exporters sell on eBay to an average of 48 countries, one of the highest globally, according to an eBay report released recently in Taipei.

eBay is a high-profile online marketplace via any connected device that is an early success in cross-boarder e-commerce. In Taiwan, eBay focuses on helping local small- to medium-sized enterprises (SMEs) and traders to sell products internationally.

Clare Lin, director of cross border trading at eBay Taiwan, says  eBay forecasted in 2013 that global Internet-enabled trade is expected to triple in five years to US$307 billion. Driven by increasing use of applications and number of free trade zones, the forecasted trade value will be even more optimistic to realize even more opportunities for local eBay exporters.

According to eBay statistics, in 2013 the top-five export markets for eBay exporters in Taiwan were the U.S., Australia, the U.K., Russia and Canada, differing from the traditional top-five of China, Hong Kong, the U.S., Singapore and Japan. That means, Lin says, the exporters can access new markets through eBay.

The top-three export product categories of Taiwanese eBay exporters in 2013 were clothing (including shoes and decorative items), auto parts, and photographic equipment. Lin said there are more than 5,000 eBay store operators in Taiwan who have posted double-digit annual growths in recent years.

The eBay report outlined several recommendations to further grow Internet-enabled trade:

1. “Free Trade Zones” in Taiwan support highly efficient forms of processing. Cargo owners can use  Taiwan as a multi-functional hub  in their global supply chain to  avail themselves of world-class manufacturing, processing, research and development.

2. Internet speed. Taiwan has  Internet speeds that rank in the top-10 globally, but further investment will increase speeds to enhance Internet-enabled businesses.

3. Streamlined customs procedures. Continued initiatives to simplify customs procedures will further assist Internet-enabled trade.

4. ePayments. All electronic payments and transfers to and from Taiwan, regardless of currency, require either purpose code or description of payment in lieu of code, failure of which may result in delay or rejection. Future ePayments regulation should be focused on technology-neutral, risk-based guidance to recognize differences in business models and practices. (QL)