Taiwan's current-account surplus is expected to remain large in the forecast period. However, as a proportion of GDP the surplus will fall to 4.3% in 2015, from 9.4% in 2010. Both exports and imports will continue to expand in 2011-15, although at a more subdued pace than in 2010. One reason for the expected steady fall in the current-account surplus during the forecast period will be the continued relocation of Taiwan's manufacturing base to China. Exporters will rely increasingly on production facilities on the Chinese mainland to fulfil their orders. Another factor that will contribute to the reduction in the surplus on merchandise trade is Taiwan's increasing openness to imports since it joined the World Trade Organisation in 2002. The income surplus will remain large, reflecting the fact that repatriated profits and dividends from Taiwan's large stock of overseas investments will far exceed income debits.