Taiwan’s trade competitiveness falls for fourth consecutive year

Taipei--Taiwan's competitiveness in trade continued to fall for a fourth consecutive year, dropping one notch to 16th in the latest rankings compiled by the Importers and Exporters Association of Taipei (IEAT) and released Wednesday.

The drop was seen in the 2017 survey on global trade environment and growth potential in key and emerging markets, according to the IEAT.

The survey, which covered a total of 54 countries and regions around the world, looked at several sub-factors such as a country's global competitive edge, trade freedom, convenience for trade, and trade risks.

Despite the fall in the rankings, Taiwan remained one of the most highly recommended countries with which to conduct trade, the IEAT said.

Taiwan's position in this year's rankings was the lowest since the organization began to conduct the survey in 2009.

Commenting on the results, the IEAT cited three reasons for Taiwan's falling trade competitiveness: market competitiveness in emerging markets, the low-salary environment and heavy trade reliance on China.

In the latest survey, the United States took first place in the rankings, followed by Singapore, Germany, the Netherlands, Canada, New Zealand, Australia, Japan, Hong Kong and Israel.

The United Kingdom, which came in third in the 2016 rankings, slipped to 13th in the latest rankings, due to the impact of its decision to leave the European Union, the IEAT said.

Source: Focus Taiwan News Channel