Taiwan experiences agricultural trade deficit

(Xinhua)
Updated: 2006-10-23 07:42

HONG KONG -- Taiwan registered an agricultural trade deficit of US$4.53 billion in the first nine months of this year, according to news reaching here from Taipei Sunday.

According to local statistics department, the deficit was caused mainly by a drastic drop in exports to Japan, the largest buyer of Taiwan's farm produce.

Data released by the department showed that, from January to September this year, Taiwan exported US$2.51 billion worth of agricultural products, down 4 percent from the same period last year, and its imports grew 0.7 percent to US$7.03 billion.

Although the trade deficit in the first nine months was up only US$0.16 billion over that in the same period of the previous year, exports to Japan fell 21.7 percent to a mere 0.72 billion U.S. dollars, the local statistics showed.

The department said that during the first three quarters, Taiwan's main agricultural exports were aquacultural and dairy products totaling US$1.82 billion.

The main agricultural imports included grains and tobacco valued at US$4.17 billion, and meat and other farm animal products amounting to US$1.45 billion U.S. dollars. These major items accounted for 79.9 percent of Taiwan's total agricultural imports.