Vietnam Ranked Top Three of Taiwan's Trade Surplus

Vietnam was ranked at third place among top sources of Taiwan's trade surplus with US$830 million in the first three months of this year, the Taipei’s Directorate General of Budget, Accounting and Statistics (DGBAS) under the Executive Yuan said on April 9.

 

However, no further details about the bilateral trade figures were released.

 

According to the Southeast Asian nation, Taiwan is one of its largest trade partners. However, it often sees a trade deficit with the northern territories including China, which reported a trade surplus with Vietnam of 2 billion last year and is expected to continue increasing for the next five years.

 

Regarding Taipei’s surplus list, China (including Hong Kong) and the United States were the two top sources with $13.9 billion and $2.19 billion, respectively, the officials added.

They noted that Taiwan's main export products were precision instruments, electric machinery, and electronics, which rose 68.8 per cent, 30.2 per cent, and 27.8 per cent, respectively, from the same period of last year. However, shipments of information technology and telecommunication products were down 9 percent.

As for Taiwan's trade deficits during the first season of the fiscal year, Japan, Saudi Arabia and South Korea were the top three countries causing Taiwan's deficits, with Japan taking the lead at US$7.26 billion, followed by Saudi Arabia at US$2.4 billion and South Korea at US$1.82 billion.