In 2021, Taiwan businesses received $200.1 billion in U.S. export orders, according to the U.S. Congressional Research Service. AITs Commercial Section offers the Single Company Promotion (SCP) and other services to help U.S. companies promote their products and services in Taiwan. Taiwan shipped another 8.7% worth of goods to Europe. Taiwans exports to Southeast Asia were even greater than those to the U.S. at $70.25 billion to the region, versus $65.7 billion to the U.S., the data showed. Twitter. The United States is Taiwans second largest trading partner, accounting for 12.6 percent of total trade and Direct access to our data from your apps using any programing language. It also produces a great number of automotive parts and has taken a lead in developing electronics systems for automotive intelligence. What is Chinese Taipei? $12.00 8% off. Some of the most common metal products exported by Taiwan include wires, pipes, rods, bearings, and valves. All Rights Reserved. Many Taiwan-based companies operate factories in mainland China. So, what does Taiwan export? USD Million. Taiwan imports mostly parts of electronic products Sources: Taiwan's Ministry of Finance, China's General Administration of Customs, Bloomberg Seller 100% positive. TAIPEI (Reuters) - Taiwan's exports likely contracted in October for the second month in a row, amid fears of a global recession, uncertainties due to the war in Ukraine, and Bloomberg Daybreak Asia. Bilateral trade in goods between the EU and Indonesia amounted to 20.6 bn in 2020, with EU exports worth 7.2 bn and EU imports worth 13.3 bn. Taiwan Fei Yu Qing Chinese Rare Gold CD Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. Exports fall for first time since May 2020, down 0.3% y/y. Seller 100% positive. In addition, Taiwan's exports of computers and accessories and computer components totaled US$17.6 billion and US$12.0 billion, respectively, in 2021, up 250 percent and 190 percent from 2016. Details About Taiwan's Imports/Exports Refined Petroleum. Refined petroleum is the third most traded product in the world and the annual export market is worth $753 billion with Chinese Taipei taking a 1.3% share. Flat-Rolled Stainless Steel. Hot-Rolled Iron. Copper Foil. 2 Faces Challenge to Make Chinas Economy Hum Again, Inflation-Focused Voters Defy Bidens Bid to Change the Subject, Korea Urges More ESG Focus on Women to Address Fertility Crisis, Lordstown Motors Gains on $170 Million Foxconn Investment Deal, California Fire Season to Get Snuffed Out as Pacific Storm Nears, NYC Kids Are Still Leaving Public Schools in Pandemic-Fueled Exodus, Why Georgia Is Keeping Such a Close Watch onAtlantas Elections, How a Death Star-Shaped TreehouseLanded in Austins Favorite Park, Formula One Sponsorships From Crypto Firms Dwindle With Downturn, Ethereum Insiders to Get Fee Cuts That Others Wont in Upgrade, UK Parliament Group Starts NFT Inquiry as Crypto Scrutiny Grows. Organic chemicals: $2.1 billion 3. Data show that Taiwan depends more on China for trade than it does on the U.S. China steps up military activity in response to House Speaker Pelosi's Taiwan trip, U.S. House Speaker Nancy Pelosi threw her weight behind Taiwan, 157,900 people from Taiwan resided in mainland China. (Sept 20): Global inflation has set a dizzying pace of expansion for Malaysias trade.The nations imports grew by a record 68% from a year ago, while exports rose by most since April 2021, according to data released on Tuesday (Sept 20).China accounted for one-fifth of the Southeast Asian nations imports, jumping by almost half from the year-ago month, followed Purchases increased from both non-CIS (40.6 percent) and CIS countries (36.3 percent). The island is suddenly cut off from the world. Their fiber optics are used in varied applications, including, but not limited to, the following: According to Export.gov, Taiwan is a world leader in the production of wheelchairs, bandages, rehabilitation products, patient aids, and other medical supplies, as well as basic medical and surgical instruments. $11.04. Taiwan is the worlds largest single computer chip manufacturer; odds are, if youre using a computer, part of its components were made in Taiwan. Semiconductors bolster growth in Taiwan 1H22 exports, says MOF. Sign up for free newsletters and get more CNBC delivered to your inbox. $19.5 billion or 6.8% of its overall imports. 4 What are Taiwans Major imports and exports? These are rather broad categories, and a wide range of products are produced and exported under each one. Among Taiwans top export markets, China, Japan, and Malaysia received more than 10 percent of their total steel imports from Taiwan. China incurred the highest trade deficits with the following countries. Got a confidential news tip? Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. Track your investments 24 hours a day, around the clock from around the world. Begin typing your search term above and press enter to search. These cookies ensure basic functionalities and security features of the website, anonymously. For example, when it comes to semiconductors alone, Taiwan accounts for 28% of the worlds output, which is second only to Silicon Valley. Standard users can export data in a easy to use web interface or using an excel add-in. Overall, the value of palm oil imports accelerated by 51% for all importing countries since 2017. Of course, we are fully complying with all applicable international sanctions on Russia. Many scholars say the Also shown is each import countrys Taiwan: -US$156.4 billion (country-specific trade deficit in 2021) Australia: -$92.6 billion; South Korea: -$58.7 billion Overall, the value of Chinas rice imports went up by an average 32.1% from all supplying countries since 2020 when rice purchases were valued at $1.5 billion. Giant Manufacturing Co. was established in 1972, and by 2014 the company was exporting bikes to over fifty countries. Taiwan is very open to international trade, which represented over 62.7% of GDP in Taiwan from 2015 to 2018 (WTO, 2020). Taiwan's economy is export-oriented. A Q&A guide to exporting from Taiwan. In all, Taiwan exported $188.91 billion in goods to mainland China and Hong Kong in 2021. While the goods made in Taiwan are shipped all around the globe, their largest consumer bases are China and the U.S., with other Asian countries using much of the rest. Find qualified detailed Taiwan imports and exports data provided by government customs on NCB DATA. The industries in which Taiwan exports the majority of its goods are the semiconductor industry, the steel and iron industry, and the plastics industry. These cookies track visitors across websites and collect information to provide customized ads. Net exports fell over the year due to the higher import prices from commodities, offsetting the strengths in gross capital formation and government spending. Credit: AFP. Both exports and imports for the year reached record levels, totaling US$274.64 billion and US$251.4 billion, respectively. operate factories in mainland China. Reports. The cookie is used to store the user consent for the cookies in the category "Analytics". These overtures have likely played a role in increasing Taiwans total exports, which rose 11% during the first half of 2017, buoyed by strong demand for semiconductors. The U.S. recognizes Beijing as the sole legal government of China, while maintaining unofficial relations with Taiwan. Exports: Imports: Trade Balance: October 2022 data will be released on Tuesday, December 6, 2022. TAIWAN IMPORTS AND EXPORTS PTY LTD. TAIWAN IMPORTS AND EXPORTS PTY LTD (Number: 637881219) is located at New South Wales, established on 2019-12-05 (2 years ago). These include flat screens, touch screens, microchips, and more. Taiwan is a member of numerous trade agreements, with China, Japan, USA, the European Union, and Hong Kong as top 5 trade partners in 2010. [61] [62] Taiwan has the world's lowest fertility rate and high housing prices . Below is a list showcasing 25 of Taiwans top trading partners, countries that imported the most Taiwanese shipments by dollar value during 2021. The exports surged 24.6% year on year to a fresh record of USD 40.14 billion in October, breaking the market forecast of 24.4% jump, driven by robust demand for tech products ahead of peak holiday season and higher raw material prices. That would be the worst fall since January 2020, when exports dropped 7.6%. Additionally, Foxconn Technology Group is based in Taiwan. Exports were led by capital goods except automotive, which accounted for 39 percent of U.S. exports to Taiwan, and imports were led by capital goods except automotive, which accounted for 53.9 percent of U.S. imports from Taiwan. May 21, 2021. Merida sells their bikes in at least seventy-seven different countries. by Hung Ou Yang, Jia-Jun Fang, Fred Lin, Tzu-Peng Chen and Cheng-Yu Ma, Brain Trust International Law Firm. the latest available country-specific data shows that 79.1% of products imported from taiwan were supplied by exporters in: mainland china (21.6% of taiwans global total), japan (14.7%), united The visit came despite warnings from China, which considers Taiwan part of its territory and maintains the island should have noright to conduct foreign relations. Taiwan Export Data. NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified. Save my name, email, and website in this browser for the next time I comment. Imported pharmaceuticals posted the fastest-growing increase in value among the top 10 import categories, up 117.2% from 2020 to 2021. Taiwan is not included. This Chinese electric carmaker's stock could rally by more than 260%, Citi says, China is an 'attractive market' with 'inexpensive' stocks, fund manager says giving 3 picks. Exports. The status of United States beef imports has been an issue in TaiwanUnited States relations. But opting out of some of these cookies may affect your browsing experience. China has started restricting exports and imports with Taiwan Chinese companies have stopped supplying sand to the island of Taiwan. Still, Taiwan's business and economic ties with mainland China and Hong Kong have grown so large that the region is by far the island's largest trading partner. The cookies is used to store the user consent for the cookies in the category "Necessary". Sand export ban: Meanwhile, Chinas Ministry of Commerce also announced Wednesday it is immediately suspending its export of natural sand to Taiwan, a key component for the production of semi-conductor chips. In terms of total trade, other major Taiwan trading partners include Japan (10.9 percent), the European Union (8.2 percent), and Hong Kong (7.9 percent). Steel Imports Report: Taiwan Taiwans Export Market Share from Top Source Countries In 2018, the share of steel exports sent to Taiwan from its top import sources increased for 5 of the top ten source countries for which data are available. Why does China want Taiwan? Beijing views Taiwan as an inseparable part of its territory - even though the Chinese Communist Party has never governed the island. Chinese President Xi Jinping has vowed to pursue "reunification" with Taiwan by peaceful means. List of U.S. states and territories by exports and imports; List of German states by exports; List of countries by oil exports; References This page was last edited on 5 October 2022, at 13:00 (UTC). All oh which, are currently used all over the world. A Cultural Guide How Safe is Taipei? From bicycles to laptops, smartphones to fossil fuels, Taiwan has a varied and lucrative export trade. Sep 2022. The UKs goods and services exports to Taiwan grew by 2.3% in 2014 and reached their second-highest level at 1,957 million. We also use third-party cookies that help us analyze and understand how you use this website. Over the last five years, Taiwan's imports from mainland China have surged by about 87% versus 44% growth in imports from the U.S. Taiwan's exports to mainland China grew by 71% between 2016 and 2021. Taiwan is very open to international trade, which represented over 62.7% of GDP in Taiwan from 2015 to 2018 (WTO, 2020). 2022 CNBC LLC. The cookie is used to store the user consent for the cookies in the category "Performance". Overseas shipments in December grew 23.4% from a year earlier to $40.7 billion, according to a statement from Taiwans Ministry of Finance Friday. A nice statistic to leave on Taiwans annual exports amount to about USD$275 billion, putting it in 17th place globally (and two spots ahead of Soybeans, corn, and wheat were top imports in 2018, and the United States had the largest market share for each of these products. Separately, the consumer price index was expected to have risen 2.7% in October from a year earlier, a slower rate than 2.75% in September, according to the poll. Imports The top imports of Chinese Taipei are Integrated Circuits ($48.6B), Crude Petroleum ($15.2B), Photo Lab Equipment ($11.4B), Machinery Having Individual Functions ($6.91B), and About 22% of Taiwan's imports last year came from mainland China and Hong Kong, versus 10% from the U.S., official data showed. This cookie is set by GDPR Cookie Consent plugin. Exhibit 3s- Exports, Imports and Balance of Goods XLSX - 20kb; Exhibit 4s- Trade by Country and Area - Current Year XLSX - 20kb; Exhibit 4as- Trade by Country and Area - Prior Year XLSX - 20kb; September 2022 Trade in Goods and Services. Exporting from Taiwan: Overview. Main exports partners are Mainland China & Hong Kong (40% of total), ASEAN countries (18.3%), USA (12%), Europe (9%) and Japan (7%). Log in, Electrical machinery, equipment: US$120.7 billion (31.5% of total imports), Machinery including computers: $57.9 billion (15.1%), Mineral fuels including oil: $49.8 billion (13%), Optical, technical, medical apparatus: $16.9 billion (4.4%), Plastics, plastic articles: $9.5 billion (2.5%), Other chemical goods: $7.3 billion (1.9%), Integrated circuits/microassemblies: US$81.6 billion (up 30.5% from 2020), Phone devices including smartphones: $7.4 billion (up 15.8%), Solar power diodes/semi-conductors: $3.6 billion (up 31.4%), Printed circuits: $3.6 billion (up 35.2%), Electrical converters/power units: $2.8 billion (up 27%), Unrecorded sound media: $2.7 billion (up 8.7%), Lower-voltage switches, fuses: $2.4 billion (up 33.2%), Electrical capacitators: $2.3 billion (up 45.4%), TV/radio/radar device parts: $1.6 billion (up 38.4%), Insulated wire/cable: $1.5 billion (up 44.6%), Machinery for making semi-conductors: US$25.5 billion (up 40.1% from 2020), Computer parts, accessories: $7.5 billion (up 43%), Computers, optical readers: $5.3 billion (up 31.7%), Centrifuges, filters and purifiers: $1.5 billion (up 21.7%), Miscellaneous machinery: $1.5 billion (up 26.4%), Air or vacuum pumps: $1.4 billion (up 34%), Taps, valves, similar appliances: $1.3 billion (up 26.6%), Assembly machinery for lights, lamps: $1.2 billion (up 164.5%), Air conditioners: $611.7 million (up 15.7%), Crude oil: US$19.9 billion (up 57.5% from 2020), Petroleum gases: $11.4 billion (up 87.6%), Processed petroleum oils: $9.6 billion (up 71.4%), Coal, solid fuels made from coal: $8.2 billion (up 65.7%), Coal tar oils (high temperature distillation): $506.5 million (up 56%), Coke, semi-coke: $78.3 million (up 23.8%), Petroleum oil residues: $71.3 million (up 48.2%), Petroleum jelly, mineral waxes: $42.4 million (up 21.4%), Oscilloscopes, spectrum analyzers: US$4.9 billion (up 14.5% from 2020), Other measuring/testing machines: $4.2 billion (up 46.9%), Liquid crystal/laser/optical tools: $1.3 billion (up 20.1%), Electro-medical equipment (e.g. A lack of natural resources had made Taiwan dependent on imports. Taiwan's finance ministry had predicted October exports could contract in a range of 3% to 6% from a year earlier. Net exports fell over the year due to the higher import prices from commodities, offsetting the strengths in gross capital formation and government spending. In fact, some of the most recognizable companies from Taiwan include the computer makers Acer and Asus. To be thorough, heres a list of Taiwans top 15 trading partners. Overseas shipments likely contracted 6% in October: survey, Causes include drop in demand from China, global slowdown, Twitter Now Asks Some Fired Workers to Please Come Back, Elon Musk Walks Back on Twitter Job Cuts, Blue Checks in Second Week, Billions in Capital Calls Threaten to Wreak Havoc on Global Stocks, Bonds, Stocks Rally for Second Day Ahead of US Midterms: Markets Wrap, Twitter Fires More Than 90% of India Staff, Leaving Just a Dozen. This cookie is set by GDPR Cookie Consent plugin. Beef About 97% of Taiwans beef consumption depends on imports. Taiwan exports a wide array of optical products, including the following: Prime Optical Fiber Corporation (POFC) is one of the only manufacturers of fiber optics in Taiwan. Taiwan doesnt just export raw metal, either. By. In 2018, Taiwan bought US$286.5 billion worth of imported products up by 4.7% since 2014 and up by 10.3% from 2017 to 2018. Taiwans participation in this category of exports is not expected to falter anytime soon. Taiwans top three exports include electronics, machinery, and plastics. The largest machine tool manufacturing group in the world, the Fair Friend Group, is based in Taiwan. As of 2018, refined petroleum remained Taiwans number one commodity export by a wide margin, with more than $21 billion worth of this fuel leaving the country. Aerial photograph of shipping containers at the harbor in Keelung, Taiwan. Related topics. Imports also shrink, first drop since August 2020, down 0.7%. Sales were up mainly to ASEAN (29.5 percent), Australia (34.2 percent), Russia (22.2 percent) the EU (5.6 percent), Japan (5.9 This is by no means a comprehensive list, as there are a huge number of items made of iron and steel in Taiwan. Exports. Top Taiwan Imports from the World. From bicycles to laptops, smartphones to fossil fuels, Taiwan has a varied and lucrative export trade. Taiwan exports far more than just what has been mentioned so far. Taiwan's electronic companies such as Foxconn, Pegatron, and Wistron used to produce more than 90% of the laptops in China. Electrical machinery, equipment: US$93.3 billion (32.5% of total imports), Machinery including computers: $43.2 billion (15%), Mineral fuels including oil: $29.6 billion (10.3%), Optical, technical, medical apparatus: $14 billion (4.9%), Plastics, plastic articles: $7.7 billion (2.7%). Taiwan 2021 Export Highlights | USDA Foreign Agricultural By Mehmet Gocmez. A video roundup of today's news from AgDay. $11.04. The U.S. goods and services trade deficit with Taiwan was $27.6 billion in 2020. The status of United States beef imports has been an issue in TaiwanUnited States relations. Advanced users can use our Python/R/Matlab packages. China and Hong Kong buy about 40% of Taiwans total exports, making those markets key trading partners. Their primary plastic exports include plastic injection molding machines, thermoforming machines, and blow-molding machines, as well as numerous other plastic and rubber products. Natural sand is widely used in concrete production, road construction, construction The economy contracted at a seasonally adjusted annualised rate of 2.9%. Last year, mainland China and Hong Kong accounted for 42% of Taiwan's exports, while the U.S. had a 15% share, according to official Taiwan data accessed through Wind Information. Taiwan relies on the U.S. more than the U.S. relies on Taiwan, based on the numbers. According to Commodity.com, Taiwans third-highest commodity export is coated flat-rolled iron, as they export more than $2 billion of it per year. Also shown is the percentage share each product category represents in terms of overall imports into Taiwan. Taiwan's exports to Southeast Asia were even greater than those to the U.S. at $70.25 billion to the region, versus $65.7 billion to the U.S., the data showed. Year-on-year imports were down 0.7 percent, negative for the first time since March this year and down from Septembers 0.3 percent growth. Exports were $39.1 billion; imports were $66.7 billion. 4 Safety Metrics 11 Most Interesting Facts About Taiwan to Learn Taiwan Voted Friendliest Country in the World, Tonghua Night Market A Guide to Taipeis Local Linjiang Street Market, 11 Most Interesting Facts About Taiwan to Learn Before Your Trip, Where to Stay in Taipei? We have a plan for your needs. In 2018, Taiwan was the worlds fourth-largest exporter of machine tools. Taiwans International Name What is Taiwanese Language? Taiwans top 10 imports accounted for almost four-fifths (79.2%) of the overall value of its product purchases from other countries. According to a 2020 census, about 157,900 people from Taiwan resided in mainland China, a roughly 7% decrease over the preceding decade. Originally started to produce plastic knobs for black and white TVs in the 1970s, the company exploded with the growth of the video gaming and personal computer industries. TAIPEI (Reuters) - Taiwan's exports likely contracted in October for the second month in a row, amid fears of a global recession, uncertainties due to the war in Ukraine, and COVID-19 flare-ups in China, according to a Reuters poll. This cookie is set by GDPR Cookie Consent plugin. Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Filtered by products, shipment dates, ports, industry, etc., you can quickly search Taiwan Taiwan doesnt produce many finished vehicles, but it does participate in heavy research and development. Taiwan exports a big fat zero kilowatts of electricity and natural gas, though some companies are in the business of refining crude oil. Shanghai's population of roughly 25 million people at the time. 40334.61. October 26, 2022. Electronic equipment: $9.8 billion 2. Fastest growers among these top import categories from 2020 to 2021 was iron and steel (up 78.1%), mineral fuels including oil (up 67.5%), organic chemicals (up 48.1%) then copper (up 45.5%). In The U.S. only had a 10% share, ranking behind Japan, Europe and Southeast Asia. Mainland China and Hong Kong accounted for 42% of Taiwan's exports last year, while the U.S. had a 15% share, according to official Taiwan data accessed through Wind Information.