July 3 (CNA) Trade between Taiwan and Saudi Arabia has been increasing despite the gloomy global economy, a Taiwanese official said Tuesday.
Lai Wei-kung, Taiwan’s top economic official in Saudi Arabia, said the countries in the Gulf states have not been greatly affected by the global economic downturn.
Taiwan-Saudi Arabia bilateral trade decreased in 2009 but has since been increasing steadily and rapidly, according to Lai.
Government statistics show that bilateral trade totalled over $15.53 billion in 2011, up 20.79 percent from the previous year, while during the first five months of 2012, the figure reached $7.19 billion, up 9.53 percent over the same period of a year ago.
Taiwan’s January-May exports to Saudi Arabia reached $848 million, up 35 percent from a year ago, while imports from there totalled $6.35 billion, posting a year-on-year 6.84 percent increase.
Taiwan exported mainly car parts and components, steel and related products, plastic products and machinery, while imports from the Middle Eastern country were principally oil and petrochemical products. -By James Lee