[Global Times-Global Network Reporter Ni Hao] The latest data released by Taiwan authorities on the 8th shows that if it were not supported by the huge trade surplus from the mainland and Hong Kong, Taiwan's trade would have suffered a huge deficit in the first seven months of this year.
On the 8th, the latest data released by Taiwan's competent authorities showed that in the first seven months of this year, Taiwan's total import and export volume was about 547.4 billion US dollars.
As a typical export-oriented economy, Taiwan exported a total of US$289.97 billion in the first seven months of this year, with a trade surplus of US$32.72 billion.
Among them, Taiwan's input to the mainland and Hong Kong reached 113.1 billion US dollars, accounting for 39%.
The trade surplus directly affects the performance of GDP, and the impact on an export-dependent economy like Taiwan is even more pronounced.
Relevant data show that in the first seven months of this year, Taiwan's trade surplus with mainland China and Hong Kong was US$60.278 billion, which means that if it were not for the trade surplus brought by the mainland and Hong Kong to Taiwan, Taiwan would have experienced a trade surplus of nearly 285 million in the first seven months of this year. billion dollar trade deficit.
According to the data listed in the news released by Taiwan authorities, a reporter from the Global Times found that in the past ten years, Taiwan has maintained a trade surplus year after year, and its contribution mainly comes from the mainland and Hong Kong.
If there is no surplus support from the mainland and Hong Kong, Taiwan will maintain a deficit status since 2012, and the scale is huge.
Taking 2021 as an example, Taiwan's annual trade surplus will be US$64.885 billion, while the surplus contributed by the mainland and Hong Kong will be US$104.698 billion.
If this data is deducted, Taiwan's annual trade deficit is as high as 39.8 billion US dollars.
In addition, according to the past data of Taiwan's economic department, the proportion of foreign exports in Taiwan's GDP has been increasing year by year, and it has always been an important driving force for Taiwan's GDP growth. The huge trade surplus with the mainland and Hong Kong plays an important role in it.
Taking the data of the first quarter of 2022 as an example, Taiwan's GDP increased by 3.91%, of which 3.88 percentage points came from the export of goods and labor services.
According to estimates by Tang Yonghong, deputy director of the Taiwan Research Center of Xiamen University, in 2020, when the global outbreak of the new crown pneumonia epidemic, exports contributed as much as 88% to Taiwan's economic growth. .
On August 3, according to the relevant import and export regulations, as well as food safety requirements and standards, the relevant departments of the mainland imposed restrictions on grapefruit, lemons, oranges and other citrus fruits, chilled leucorrhea and frozen bamboo pods exported from Taiwan to the mainland. Fish to take measures to suspend importation.
At the same time, the mainland decided to suspend the export of natural sand to Taiwan.
According to Taiwan media reports, when Tsai Meina, a relevant person in charge of Taiwan's financial statistics department, released data on the 8th, she believed that "cross-strait trade is highly interdependent, almost you have me, and I have you", claiming that "if 'trade sanctions' heat up, I'm afraid it will become a fist of seven wounds."
However, in an interview with the Global Times reporter on the 9th, Tang Yonghong said that Taiwan's high dependence on the mainland's economy is an objective fact. multiple economic penalties.
Bloomberg quoted an economist from Citigroup in a report on the 9th and pointed out that in view of the unpredictable geopolitical situation, in addition to the above-mentioned products that have been suspended from importing, other Taiwanese products that still enjoy zero tariffs are exported to the mainland. also at risk.