Taiwan’s exports and imports rose to a three-year high in March, thanks to growing demands amid global economic recovery, the finance ministry said Thursday.
In March, exports totalled 23.37 billion US dollars, a year-on-year increase of 50.1 percent, while imports amounted to 21.87 billion US dollars, up a whopping 80.3 percent from the same period last year, the ministry said.
The amounts represented a growth of both exports and imports for the fifth straight month, and the highest since August 2008 when the island was hit by the global financial crisis.
The ministry cited strong increase in global demand for petrochemical and electronic products as the major reason for the island’s export growth.
China remained Taiwan’s biggest export market, with the island shipping goods worth 10.26 billion dollars, accounting for 43.9 percent of Taiwan’s total exports.
Europe and the United States followed, sharing the second place as Taiwan’s second-largest export markets, buying goods worth 2.4 billion dollars, or 10.5 percent of the total.