Korea and Taiwan Vie for the Lower End of Chinese Markets
Via Jose Areta – and I still don’t know what “the “penalty factor” is – South Korea and Taiwan traded statistical accolades in the Chinese market. But, it’s interesting how South Korea did it.
Citing statistics released by China’s customs authorities, the ministry said Taiwan secured a 8.4 percent share of China’s total imports for the first 11 months of last year, lagging behind South Korea’s 10 percent share.
But Taiwan overtook South Korea in terms of growth in exports to China for the 11-month period, posting a 37.9 percent year-on-year increase to South Korea’s 37.4 percent rise, the ministry said.
South Korea maintained a higher market share than Taiwan in China mainly because of its dominating position in optical products, flat panels in particular, as well as in organic chemicals and plastic goods, the ministry said.
Taiwan excelled in man-made fiber exports to China, occupying the top spot on the list of China’s main import sources, and it ranked second in shipments of electronics and electric appliances.
South Korea didn’t lead in electronic products. OTOH, South Korea has a fair;y wide range of exports. And, reading further, Taiwan is set to roar back and surpass South Korea. And, Japan remains at the top.
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Filed under: Business/Economy, East Asia Tagged: china, exports, japan, prc, South Korea, taiwan