Taiwan's exports to mainland hit record high

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TAIPEI, Aug. 7 (Xinhua) -- Taiwan's exports to the Chinese mainland and Hong Kong totaled 79.43 billion U.S. dollars over the first seven months, a new high for the same period in previous years, the island's finance department said Friday.

The figure was 10.2 percent higher year on year, the department said in a press release.

In July alone, the island's exports to the mainland and Hong Kong reached 12.58 billion dollars, up by 12.7 percent year on year. The figure accounted for about 44.6 percent of the total exports, and remained the biggest among the island's major export markets, the statement said.

Meanwhile, the island's imports from the mainland also increased by 1.4 percent year on year to 5.23 billion dollars in July.

Taiwan's total exports in July reached 28.2 billion dollars, slightly up by 0.4 percent year on year, ending four months of decline.

The island's total imports in July fell by 6.8 percent year on year to 22.83 billion U.S. dollars.

The department attributed the increase of exports in July to the booming new technology industry, including 5G communications, but warned that Taiwan's export dynamics may not be sustainable amid the uncertainty of the COVID-19 pandemic. Enditem

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