Taiwan's exports to the Chinese mainland and Hong Kong reached a record 114.75 billion U.S. dollars in 2010, accounting for nearly 42 percent of its total exports, the island's economics department said Friday.
Imports from the mainland and Hong Kong reached nearly 37.6 billion U.S. dollars last year, also a record high, the department's statistics show.
Taiwan's exports rose 34.8 percent year on year to 274.64 billion U.S. dollars last year while imports increased 44.2 percent to 251.4 billion U.S. dollars.
The mainland and Hong Kong remained Taiwan's largest export market last month, with goods purchased from the island totaling 9.82 billion U.S. dollars in December.
The island's imports from the mainland and Hong Kong were more than one third of its exports to the two regions last month.
In December, the island's exports rose 19.1 percent year on year to 23.83 billion U.S. dollars while imports increased 21.4 percent to 22.23 billion U.S. dollars.
On Thursday, the mainland and Taiwan jointly established an economic cooperation committee to handle issues related to the cross-Strait Economic Cooperation Framework Agreement (ECFA).
The committee will promote cross-Strait economic agreements under the framework of the ECFA, officials on both sides said.
On Jan. 1, the two sides took their first step to further economic ties by implementing the ECFA's "early harvest program."
Under the program, the mainland reduces tariffs on 539 Taiwanese goods while Taiwan drops duties on 267 mainland goods. The two sides will enjoy tax-free trade in hundreds of goods by 2012.
