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Keelung, Taichung and Kaohsiung are regular ports
of call for the East Asia vessels providing fast
and direct connections for both container and breakbulk
cargoes every 15 days.
Key economic indicators
| Population |
22.90 million (2004 forecast) |
| GDP |
US$288 billion (2003), US$319 bn (2004 forecast) |
| GDP Growth Rate
|
+3.2% (2003), 5.4% (2004 forecast) |
| GDP Per Capita
|
US$12,754 (2003), US$13,934 (2004 forecast) |
| Inflation |
-0.3% (2003), 1.5% (2004 forecast) |
| Total Imports |
US$136.67 billion (y/e March 2004) |
| Total Exports |
US$151.47 billion (y/e March 2004) |
| Currency |
1 New Taiwan dollar (NT$) = NZ$0.5 cents (approx.) |
| Exchange Rate |
NZ$ = NT$20.05 (approx.) |
| |
US$ = NT$33.55 (approx.) |
Source: DGBAS and others
Overview
With limited resources and a population of nearly 23 million in an area the size of Canterbury, Taiwan is one of Asia's classic post World War II success stories. Following on from post-war successes in agricultural and light industries, Taiwan changed its focus in the 1960s to medium technology, export-oriented, light assembly and heavy manufacturing industries.
Since the 1980s deliberate strategies at both national and enterprise levels have concentrated on identifying and investing in new leading edge industries. Today, hi-tech businesses, notably electronics, telecommunications, computers and peripherals, account for over 50% of Taiwan's exports. This is evolving into more sophisticated design and fabrication of high tech products and services, and into biotechnology. These industries capitalise on what is arguably Taiwan's greatest competitive advantage - the ability to rapidly commercialise technology and bring new products to market.
Taiwan is the world's 16th largest trading economy and consistently ranks in New Zealand's top ten export markets. This placing is largely due to the volumes and values of New Zealand's leading exports such as beef, dairy products, fruit, timber, and electrical machinery. Manufactured and technology exports have increasing importance in niches in industrial and in food and beverage markets. New Zealand's acceptance as an education destination continues to grow steadily.
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Taiwan's Top Ten Exports for year ended March 2004 (US$ million)
| Electrical machinery |
47,363 |
| Machinery |
31,708 |
| Plastic |
9,088 |
| Optical, photographic, measuring, medical instruments |
8,453 |
| Iron & Steel |
5,622 |
| Vehicles, aircraft, vessels, associated transport equipment) |
5,109 |
| Iron/steel products |
4,031 |
| Mineral fuel, oil etc |
3,706 |
| Manmade filament, fabrics |
3,290 |
| Organic chemicals |
2,924 |
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Taiwan's
Top Ten Imports for year ended March 2004
(US$ million)
| Electrical machinery |
37,083 |
| Machinery |
19,392 |
| Optical, photographic, measuring, medical instruments |
9,703 |
| Iron and steel |
6,221 |
| Organic chemicals |
5,868 |
| Plastic |
,632 |
| Misc. chemical products |
3,104 |
| Vehicles, aircraft, vessels, associated transport equipment |
2,952 |
| Copper and articles thereof |
2,056 |
| Aluminium |
1,570 |
Source: Taiwan Directorate General of Customs
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New
Zealand's Top Ten Exports to Taiwan, y/e March 2004
($NZ million)
| Meat |
186.9 |
| Dairy |
173.8 |
| Fruit |
66.4 |
| Wood |
39.7 |
| Industrial & Electrical machinery |
31.3 |
| Wood pulp |
17.6 |
| Fish and seafood |
15.2 |
| Fats and oils |
14.1 |
| Animal hair & yarn, fabric |
12.9 |
| Misc. food |
9.9 |
| Total NZ Exports to Taiwan |
638.6 |
Source: Statistics New Zealand
The above information is an excerpt from the New Zealand Trade & Enterprise Country Briefs. For a more comprehensive
account visit:
http://www.nzte.govt.nz
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