February 9, 2005
The
MOEA expressed its great expectations that each
MOEA department create new directions for economic development in the Year of the Rooster, a year ripe for reaping profits according to tradition, at a meeting focusing on the development of
MOEA operations on February 2 just before the start of the Lunar New Year holiday. At the meeting, the Department of Statistics presented a report titled "An Analysis of Economic Trends" in which it provided a plethora of positive statistics demonstrating that the Year of the Rooster provides the perfect opportunity for the government to press on with its efforts aimed at the upgrading of industries and improvement of Taiwan's investment environment. Here are some of the more impressive figures: in 2004 Taiwan achieved record highs for import and export values and overseas orders, the economic growth rate hit its highest level in nearly seven year high, the nation's manufactures posted their best growth rates in seventeen years, growth in private investment was the highest in thirteen years, and the unemployment rate fell to its lowest level in almost four years.
Minister of Economic Affairs Ho Mei-yueh pointed out that the overall positive performance of Taiwan's economy in 2004 shows the initial achievements of the government's efforts to boost the economy and that, with the global economy slowing, domestic demand will play an even more important role in promoting the nation's economic growth. Minister Ho said that the
MOEA must move ahead with its efforts to transform a Taiwan based on manufacturing into a Taiwan of innovation, research and development, and high value in order to raise the nation's global competitiveness, but that the promotion of private investment will also be an important task this year. With this in mind, Ho instructed the Board of Foreign Trade, Industrial Development Bureau, Industrial Development and Investment Center, Small and Medium Enterprise Administration, Commerce Department and Department of Industrial Technology to step up efforts to develop new business and work together to attract
R&D and technical personnel to Taiwan so as to create an even more well-rounded and favorable environment for economic development.
MOEA data shows that in 2004 exports increased by 20.7% to
USD 174 billion, while imports rose 31.9% to
USD 167.9 billion. Both of these annual totals are the highest ever achieved in Taiwan. The Directorate-General of Budget, Accounting and Statistics predicts that the nation's export and import values will reach record highs again in 2005, with exports growing 7.4% to
USD 187.1 billion and imports rising 5.8% to
USD 175.1 billion. Overseas orders also hit a record annual high in 2004, climbing 26.50%, the highest growth in overseas orders since 1999, to
USD 215.1 billion. However, with such a high rate of growth last year, the DGBAS expects this year's annual growth rate in overseas orders to fall off a bit.
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