Taiwan's exports to the mainland hit a record high in 2020, accounting for 43.9% of total exports

In 2020, Taiwan's exports to the mainland (including Hong Kong) will reach US $151.45 billion, up 14.6% year on year, accounting for 43.9% of Taiwan's total exports. Not only will Taiwan's scale reach an all-time high, but its dependence will also reach a new high. The mainland (including Hong Kong) is the largest export market and source of the largest surplus in Taiwan.

Statistics show that Taiwan's export value in December was 33 billion US dollars, and the total annual export value was 345.2 billion US dollars, a year-on-year increase of 4.9%, a record high.

In December last year, Taiwan's exports to the mainland (including Hong Kong) reached about US $14.716 billion, a record high in a single month over the years, with a year-on-year growth of 20.5%, accounting for 44.6% of Taiwan's total exports in the same period. Taiwan's exports to the mainland (including Hong Kong) reached US $151.45 billion, a record high, up 14.6% year-on-year.

According to the analysis of the financial affairs department of the Taiwan authorities, Taiwan's excellent export performance to the mainland (including Hong Kong) comes from long-distance business opportunities, emerging technologies and 5g applications. Electronic components and audio-visual materials and communications are the bulk exports to the mainland. In addition, the increasing demand for optical equipment and gold, as well as the proper control of the epidemic in the mainland, make Taiwan's export performance excellent. Looking forward to novel coronavirus pneumonia outbreak in 2021, there is a variable in the outbreak of the new crown pneumonia. With the advent of effective vaccines and the upgrading of Taiwan semiconductor industry capacity, the export outlook is quite optimistic until the first half of the year. The export performance in the first quarter is expected to be better than the average in the past year.

Source: OCTG manufacturer