Taiwan's exports to China totaled US$9.54 billion in January, setting a 17-month high, and could exceed US$10 billion in a single month later this year, the Ministry of Finance said Monday. Lin Li-chen, director general of the MOF's Department of Statistics, said January's exports to China accounted for 43.9 percent of the total exports, the highest level since October 2007. The figure also represented the second highest since statistics were compiled, trailing only the 44.1 percent share seen in September 2007. She said exports to China were up mainly because of increasing demand prior to the Chinese New Year. Of the products exported to China, sales of electronic products rose by US$330 million in January, the most of any category, while shipments of optical equipment increased by US$300 million. The MOF said January exports totaled US$21.75 billion, the most in 16 months, and exceeded US$20 billion for the third consecutive month. The total represented year-on-year growth of 75.8 percent, the largest increase since August 1976. Imports in January totaled US$19.25 billion, also a 16-month high and the third consecutive month in which there was positive growth. The total was 114.7 percent higher than in January 2009, the largest monthly increase since September 1974. Lin said the high annual increase was due to the stable growth of exports and imports in January and the low baseline set last year when the Chinese New Year holiday came in January and Taiwan was in the throes of the global economic downturn. In January, Taiwan's exports of NT$3.16 billion to the six major members of the Association for Southeast Asian Nations, US$2.43 billion to Europe, and US$1.47 billion to Japan all set new highs in over a year. Only exports to the United States, which totaled US$2.22 billion, were down from the previous month. 