Taiwan’s Export Growth and Global Prosperity in 2023: An In-depth Analysis

Taiwan’s Export Growth and Global Prosperity in 2023: An In-depth Analysis

2024-04-11 12:44:46

According to the World Trade Organization (WTO) Latest published statistics, Taiwan in 2023export valueThe global ranking moved up one place to 16th, while the import value fell four places to 21st.

2023 Globalprosperityaffected by inflationary pressures andRaise interest ratesrestrictions, the economic growth of major countries has generally slowed down. According to WTO statistics, the total value of global exports last year was US$23.8 trillion, a decrease of 4.6% from 2022. Mainland China’s exports topped US$3.38 trillion, accounting for 14.2%, followed by the United States accounting for 8.5%, Germany 7.1%, and the Netherlands 3.9%. , Japan 3%.

For other Asian countries, South Korea’s exports were US$632.2 billion, accounting for 2.7%, and its ranking fell 2 places to 8th. Hong Kong accounted for 2.4%, and its ranking continued to rank 10th. Singapore improved one place to 15th, and Taiwan’s exports were US$432.4 billion, accounting for 1.8%. %, the world ranking moved up one place to 16th.

The total global import value in 2023 is US$24.2 trillion, an annual decrease of 5.7%. The top five importing countries are the United States, mainland China, Germany, the Netherlands and the United Kingdom, Hong Kong and South Korea rank 9th and 10th respectively, Singapore ranks 17th, and Taiwan imports 3514 billion US dollars, accounting for 1.4% of the world, ranking 21st, falling 4 places.

The Ministry of Finance explained that observing changes in the global export proportions of major economies, the export proportions of mainland China, Japan, South Korea and Hong Kong in 2023 will remain the same as the previous year, while those of Germany and the United States will increase by 0.4 and 0.2 percentage points respectively, while Taiwan and Singapore will each decrease. 0.1 percentage points.

For example, compared with 10 years ago, mainland China’s share increased by 2.6 percentage points, mainly due to its globalmanufacturingRegarding the relative advantages of the supply chain, continued strengthening of industrial upgrading and integration into regional economic and trade integration, Taiwan and the United States both increased by 0.2 percentage points, Japan decreased by 0.8 percentage points, and Singapore, South Korea, Hong Kong and Germany decreased by between 0.2 and 0.5 percentage points.

Taiwan ranks first! Last year, the country ranked first in the world in terms of exports. However, China’s imports fell to 21st.

According to the latest statistics released by the World Trade Organization (WTO), Taiwan’s export value in 2023 moved up one place to 16th in the global ranking, while its import value fell four places to 21st.

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The WTO global export value ranking reveals that Taiwan ranks 16th in 2023 and has the third highest ranking over the years.

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