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Taiwan's Jan exports to mainland highest in 17 mths

(Xinhua)
Updated: 2010-02-09 10:17

TAIPEI: Taiwan's January exports to the Chinese mainland reached $9.54 billion, the highest figure in 17 months, according to local authorities.

The volume accounted for 43.9 percent of Taiwan's total exports for the month, the highest percentage since October 2007, figures showed.

Lin Lee-jen, an official in the local authorities' statistics department, said the growth was mainly driven by higher mainland demand ahead of the Spring Festival, or lunar new year, which falls on February 14.

Also adding to the surge was the rapid growth of the mainland's economy, Lin said.

Taiwan's total imports and exports in January hit their highest level in 16 months, as the effects of the global slowdown began to wane in the third quarter of 2009.

Economic authorities expect Taiwan's total trade volume to recover to pre-crisis level next month.

The mainland and Taiwan have forged increasingly close economic ties in the past year. The two sides are now negotiating a broader economic pact, the Economic Cooperation Framework Agreement (ECFA), to further normalize trade and investment relations across the Taiwan Strait.