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| RP exports to Taiwan down 33pct |
| 09-FEB-2010 Intellasia | Inquirer.net |
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| 9 Feb, 2010 - 7:06:00 AM |
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The total value of Philippine goods shipped to Taiwan as of end-November 2009 dropped 32.7 percent to $1.4 billion, from almost $2.2 billion in the same 11-month period the year before.
Data from Taiwan's Ministry of Economic Affairs showed that Taiwan's exports to the Philippines also went down to a little less than $4 billion in the January-November 2009 period, 11.2 percent lower than the $4.5 billion registered in the same period in 2008.
Total trade between the two countries slipped 18.2 percent in the first 11 months of 2009 to $5.4 billion from $6.6 billion the year before.
For the report period, Taiwan posted a trade surplus of $2.5 billion, 8.7 percent better than the year-ago period's $2.3 billion.
From January-November 2009, the Philippines was Taiwan's 15th largest overall trading partner, accounting for 1.6 percent of all exports and imports.
Taiwan's exports to the Philippines made up 2.2 percent of Taiwan's outbound shipments in the first 11 months of 2009.
The Philippines was Taiwan's 9th biggest export market in the same period.
This year, the Philippines intend to get more investments from Taiwan.
The Department of Trade and Industry-attached Bureau of Export Trade Promotion will be holding outbound and inbound business missions to Taiwan within the year.
Focus industries for the outbound business missions are auto parts and Philippine food products.
The Manila Economic and Cultural Office, an agency promoting the Philippines in Taiwan, has also laid out plans to bring more Taiwanese tourists into the country this year via attractive and convenient tour packages.
http://business.inquirer.net/money/topstories/view/20100207-251851/RP-exports-to-Taiwan-down-33
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