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Economic Daily News: Boost exports through e-commerce

Economic Daily News: Boost exports through e-commerce

As of September, Taiwan's exports had seen eight consecutive months of decline. At a time when the government seems to have run out of means to boost the country's exports, promoting e-commerce could be a feasible measure. The rapid development of e-commerce in recent years means that it has become a necessary tool for modern businesses. Any products with ideal price-performance ratios can shoot to popularity overnight via e-commerce platforms. With a good logistics system, such products can quickly become global hot sellers. Currently, virtual retail accounts for 5 percent of the world's total retail volume. It is estimated that the share will have increased to 20 percent by 2025. In the Asia-Pacific region, the e-commerce sector is expected to post a 33 percent growth this year, exceeding the global growth rate of 15.6 percent. Sales in Taiwan's e-commerce sector have been increasing at a double-digit rate in recent years, reaching NT$890.9 billion (US$27.45 billion) in 2014 with business-to-customer (B2C) and business-to-business (B2B) included. There are, however, only 45,000 businesses that are capable of establishing or participating in online sales. The number accounts for just 3.5 percent of the total 1.3 million businesses in Taiwan, which is a low figure. The United Daily News recently reported that rice farmers from Yuli in the eastern Taiwan county of Hualien are planning to use the B2C model to sell Taiwanese rice directly to Chinese consumers during the Nov. 11 "Bachelor Festival" on online shopping sites belonging to China's Alibaba Group. Over the past eight years, the farmers have cooperated with various e-commerce platforms to sell NT$200 million- worth of rice. If this kind of model can be expanded successfully, then Taiwan's farmers, manufacturers and service providers will not need to be afraid of external competition expected to be created by the cross-Taiwan Strait trade-in-services and trade-in-goods agreements, as well as the Trans-Pacific Partnership. (Editorial abstract -- Oct. 8, 2015) (By Y.F. Low)


Updated : 2021-09-21 11:26 GMT+08:00