Taiwan exports to Central, Eastern Europe hit record high

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Taiwan’s exports to 10 countries in Central and Eastern Europe soared 31.7 percent to a record high of US$1.38 billion in the first four months of 2022. (CNA)

TAIPEI, (Taiwan Today) – Taiwan’s exports to Central and Eastern Europe totaled US$1.38 billion in the first four months of 2022, up 31.7 percent over the same period last year and the highest on record, the ministry of economic affairs reported.

Further analysis of the data shows that the Czech Republic, Hungary and Poland accounted for 66.8 percent of Taiwan’s total outgoing shipments to the region, with the major export items being computer components and parts, telecommunication products and bicycle components and parts.

In particular, the ministry said booming demand for routers, smart wearable devices and switches due to the COVID-19 pandemic are driving telecom exports to Poland, while the increasing popularity of low-carbon transport is expected to boost orders for bicycle components and parts.

According to the MOEA, the region is full of potential for Taiwan firms seeking to expand their reach into Europe due to its personnel reservoir and massive market size, as well as the complementary nature of respective industrial development.

Several government-organized trade groups have visited countries in the region and concluded cooperation pacts in recent months to bolster bilateral economic and trade ties, the ministry said.

These include one led by MOEA deputy minister Chen Chern-chyi to Lithuania late last month, and one organized by the National Development Council to Czechia, Lithuania and Slovakia in October of 2021, it added.

The government will continue to hold online and physical trade promotion events and business-matching sessions to assist local firms exploring opportunities in the region, the MOEA said.

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