Taiwan trade officials announced that cross-Strait trade in the first 11 months of 2003 grew 23.2% year-on-year to reach US$41.68 billion. The increase in trade between Taiwan and China was largely driven by the global information technology industry, officials from the Board of Foreign Trade said.
Trade with China accounted for 17.1% of Taiwan's total trade, which was a 15.3% increase over the same period in 2002. The island also recorded a US$22.13 billion trade surplus with China during the 11-month period, an increase of 13%, according to the Board's statistics.
Despite tensions surrounding Taiwan President Chen Shui-bian's proposed referendum in March, the Board expects trade with China, particularly exports, to continue to grow.