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Taiwan slips in global trade competitiveness rankings

2018/01/31 17:38:57

Taipei, Jan. 31 (CNA) Taiwan's competitiveness in global trade has slipped for the sixth consecutive year, according to the annual rankings by the Imports and Exports Association of Taipei (IEAT), which were published Wednesday.

In its 2018 report, the IEAT listed Taiwan 17th in terms of competitiveness in international trade, a ranking that was one spot lower than last year and put Taiwan outside the "most highly recommended" nations to trade with.

Instead, Taiwan is now in the B-level of the association's rankings, in the category of "recommended" countries to trade with, for the first time since the IEAT began publishing the annual report 10 years ago.

The decline was due to Taiwan's high level of reliance on China, a reduction of its soft power, stagnant wages and a shortage of talent, the report said.

The IEAT's rankings are determined by factors that include a country's overall competitiveness as well as freedom, ease and risks related to trade.

At the top of the 2018 rankings of 54 countries were Germany, Singapore, the U.S., the Netherlands, New Zealand, Canada, and Australia, in that order.

(By Kuan-lin Liu and Liao)