Taiwan’s exports were booming in 2021, especially to China, which accounts for a solid 42.3 percent share of total exports. Taiwan officials have recently revised their 2021 estimate of economic growth from 6.09 percent to 6.28 percent, with both figures hitting an 11-year high. Experts say that Taiwan’s trade surplus with China continues to grow, indicating that China relies heavily on Taiwan. According to the latest figures released by the Directorate General of Budget, Accounting and Statistics on Jan. 27, Taiwan’s economy grew at a rate of 6.28 percent last year, 19 percent higher than the forecast made in November. In fact, the 6.09 percent growth rate estimated last year was already very high. Following release of the figures, Taiwan’s Vice President Lai Ching-te said on Dec. 28 that Taiwan’s epidemic control and prevention in the past two years was relatively smooth. Thus, the country was less affected by the …
Taiwan Sells Nearly Half of Its Exports to China, Reflecting China’s Dependence on Island for Semiconductors
February 8, 2022
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