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The study of export performance, especially to countries with foreign trade is the major source of economic growth. Based on Taiwan exports have played an increasingly important role in Taiwan’s economic growth and likely to decline. This study attempts to evaluate Taiwan export performance during the 2008-2015 periods, the competition between Taiwan and South Korea in the ASEAN, China, U.S., Japan and EU export markets. Through analyzing the changing pattern of export structure and competitiveness, the main find from this paper are as follows.
First, in overall variables, the real effective exchange rate has a clear, statistically significant effect on Taiwan’s export performance. Exchange rates are expressed as a comparison of the currencies of two countries. When a fall in a country’s exchange rate will lower export prices and raise import cost, that probably increasing the value of its exports and lower the amount cost on imports. In particular, Taiwan is a small country that is vulnerable to international fluctuations.
Second, some kinds of industrial variables, such that export price index, industrial productivity, unit labor cost, could improve Taiwan’s export. Especially, Taiwan is dominated by manufacturing, so the variables which are related to manufacturing need to pay more attention. The export price indexes are used to help measure inflation in products that are traded globally. Another one is unit labor costs show how much output an economy receives relative to wages, or labor cost per unit of output. A rise in labor costs higher than the rise in labor productivity may be a threat to an export’s competitiveness.
Last, the export competitors also impact on each other. When a country′s overall variables and industrial variables change, other countries will be affected. As our study demonstrates, South Korea’s export is more significantly affected by Taiwan’s industrial variables.
According to all finding of this research, facing the international trend and the industrial structural accelerated, we should promote the program of Taiwan’s businessmen return to Taiwan in order to improve domestic industrial structure and finding the best ways to cope with international volatility, aiming to design the trade, economic strategy and product market expansion to upgrade the Taiwan’s export competitiveness and the steady economic growth. | en_US |