Taiwan’s initiative in easing restrictions on imports of U.S. beef and pork should bolster its case in favor of a bilateral trade agreement. President Tsai Ing-wen’s August 28 announcement that Taiwan’s restrictions on the import of American pork and beef would be relaxed made clear that the objective was to clear the way for Taiwan…
Modest Progress for Trade & Retail Taiwan’s travel and tourism industry felt the strong impact of travel restrictions in Q2, with both revenue and expenses falling to record lows since the government began collecting the data in 1984. Statistics released by Taiwan’s Central Bank in August show that between April and June, monthly travel income…
Market Rallies While Trade Stagnates Many in Taiwan and around the world took notice in late July as the market cap for Taiwan Semiconductor Manufacturing Co. (TSMC) broke US$400 billion, briefly making it the world’s 10th most valuable company. The 10% spike in the chip manufacturer’s share value caused a record flurry of intraday trading…
An annual report lists Taiwan-related trade issues being followed in Washington. Early each year, the Office of the U.S. Trade Representative (USTR) releases a country-by-country Report on Foreign Trade Barriers. The nine-page Taiwan section for 2020 provides a concise statement of the main areas of U.S.-government concern regarding elements of the bilateral trade relationship. Taiwan’s…
EXPORTS UP, BUT NOT FOR LONG Taiwan is moving into wartime economy territory, with the government and industry working together to boost production of key items such as medical masks and alcohol-based sanitizer. After a panic run on amenities following a large jump in confirmed cases in March, several local companies pledged to increase production of toilet…
COVID-19 AROUSES FEAR, CAUTION Markets around the world have begun tumbling due to coronavirus fears, and a “black swan” recession looks possible in some economies. The Taiwan Stock Exchange has not been insulated from the shocks, with weighted shares plunging 220 points, or 2%, in late February. The outlook for a quick recovery does not look promising, as…
2019 Ends Well for Taiwan Economy Prior to the recent national elections, Bloomberg reporter Tim Culpan compiled and analyzed economic data that spanned the terms of all of Taiwan’s democratically elected presidents. His January 8 op-ed, titled “A Taiwanese Election That’s Not All About China,” argued that economic considerations, rather than just cross-Strait relations, would…
Record Retail Consumption in Q3 Taiwanese consumers increased their retail purchases last month, defying a sluggish economy and unfavorable trade conditions. Retail sales for October rose 4.2% year-on-year to NT$340.7 billion (US$11.2 billion), a record-breaking figure for that month, apparently encouraged by the recent boom in Taiwan and U.S. stock markets, department store anniversary sales,…
2019 Outlook Positive as Exports Increase Taiwan finished out the third quarter with year-on-year export growth exceeding 2%, bringing it ahead of the other three Asian Tigers for the first nine months of 2019. The figure indicates real export growth after adjusting for inflation. The Ministry of Finance notes that this growth rate has increased…
Oil Prices Are Up And So Are Exports Fuel prices have been rising in Taiwan in recent months, a result of fluctuations in global crude prices brought on by tensions in the Middle East. The latest hikes are tied to the drone strikes on Saudi Aramco facilities that took place in mid-September. Gasoline prices in…
