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Taipeieco.it - The Economic Division of Taipei Representative Office in Italy

 


Trade with Taiwan

GENERAL INTRODUCTION OF THE COUNTRY

Taiwan is an island located approximately 160 kilometres off the southern coast of China in the Western Pacific Ocean. The total land area is about 36.000 square km and the total population is more than 23 million people, making it one of the most densely populated area in the world. The geographical position in Asia is the following: in the North there are Japan and Korea, in the West there are Mainland China and Hong Kong, in South West there are the ASEAN countries (Malaysia, Vietnam, Philippines, Brunei, Thailand, Indonesia, Singapore).

Politics
The official name of Taiwan is Republic of China, founded in 1912, was the first democratic republic in Asia. Taiwan is a fully democratic country where people’s rights are respected. There are two main political parties. The Democratic Progressive Party (DPP), the Kuomintang (KMT). The president Ms. Tsai Ing-Wen (DPP), took office on 20 May 2016.
 

Living Environment
Through more than 60 years of continuous development, Taiwan has gained the status of a newly industrialising country, and abounds in modern goods and conveniences. Numerous high profile foreign companies have made successful inroads into the Taiwanese market in recent years. In particular, Italian design is highly appreciated by Taiwanese people. In the department stores many fashion and textile products, jewellery, shoes, furniture, etc. are made in Italy.
 

Trade

mil. US$

2016

2017

2018

2019

2020

2021

2022

2023

growth rate

exports 280,317 317,244 335,927 329,330 345.286 446.392 479,451 432,441 -9.8%
imports 230,564 259,261 286,361 285,869 286.513 381.521 428,036 351,470 -17.9%
total 510,881 576,506 622,288 615,199 631.800 827.914 907,486 783,912 -13.6%

balance

49,754 57,983 49,566 43,461 58.773 64.871 51,415 80,971 57.78%



Taiwan Main Trading partners 2023 (US$ mln)

 

CODE NO COUNTRY NAME TOTAL TRADE EXPORT IMPORT
RANKING AMOUNT SHARE(%) RANKING AMOUNT SHARE(%) RANKING AMOUNT SHARE(%)
TOTAL Global-Country --- 783,911.85 100.000 --- 432,441.35 100.000 --- 351,470.50 100.000

 

 

 

 

 

 

 

 

 

 

 
CODE NO COUNTRY NAME RANKING AMOUNT SHARE RANKING AMOUNT SHARE RANKING AMOUNT SHARE
CN China 1 165,966.79 21.172 1 95,733.56 22.138 1 70,233.23 19.983
US United States 2 116,854.02 14.907 2 76,234.54 17.629 3 40,619.47 11.557
JP Japan 3 75,769.51 9.666 4 31,436.67 7.270 2 44,332.84 12.614
HK Hong Kong 4 58,000.26 7.399 3 56,515.46 13.069 30 1,484.79 0.422
KR Republic of Korea 5 46,624.01 5.948 6 18,205.25 4.210 4 28,418.77 8.086
SG Singapore 6 39,262.66 5.009 5 29,738.20 6.877 9 9,524.47 2.710
MY Malaysia 7 24,851.66 3.170 7 15,166.07 3.507 8 9,685.59 2.756
AU Australia 8 23,301.08 2.972 13 5,796.81 1.340 5 17,504.27 4.980
DE Germany 9 22,032.91 2.811 11 8,139.48 1.882 7 13,893.43 3.953
NL Netherlands 10 20,383.60 2.600 8 12,927.01 2.989 11 7,456.59 2.122
IT Italy 21 5,790.34 0.739 20 2,414.23 0.558 20 3,376.11 0.961

 

                 



TWO WAY TRADE WITH ITALY
 

In 2023 the total exchanges between Taiwan and Italy have reached US$ 5.79 billion (growth rate -7%).

Taiwan exports to Italy were US$ 2.4 billion (-16.6%) and imports from Italy counted US$ 3.38 billion (+0.7%). Italy is Taiwan's 5th trade partner in EU after Germany, Holland, UK and France and 21st partner in the world.

 

 

Taiwan Import from Italy, top 10 products.
(million US$)

TIME PERIOD: 2023/01 - 2023/12
CCC_CODE CODE_NAME 2022/01 - 2022/12 2023/01 - 2023/12 RANKING SHARE(%) GROWTH RATE(%) CHANGE AMOUNT
TOTAL Italy
(CCC_CODE: ALL)
3,351.27 3,376.11 --- 100 0.741 24.84

 

 

 

 

 

 
85 Chapter 85 electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles 520.58 421.52 1 12.485 -19.028 -99.05
84 Chapter 84 nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 367.10 419.87 2 12.436 14.374 52.77
42 Chapter 42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silk-worm gut) 338.77 379.59 3 11.244 12.049 40.82
30 Chapter 30 pharmaceutical products 295.29 359.06 4 10.635 21.595 63.77
90 Chapter 90 optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 308.39 232.91 5 6.899 -24.476 -75.48
87 Chapter 87 vehicles other than railway or tramway rolling-stock, and parts and accessories thereof 159.93 209.96 6 6.219 31.277 50.02
64 Chapter 64 footwear, gaiters and the like; parts of such articles 105.51 135.01 7 3.999 27.965 29.51
62 CHAPTER 62 ARTICLES OF APPAREL AND CLOTHING ACCESSORIES, NOT KNITTED OR CROCHETED 114.08 134.20 8 3.975 17.637 20.12
71 Chapter 71 natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metals, and articles thereof; imitation jewellery; coin 98.71 122.56 9 3.630 24.166 23.85
61 CHAPTER 61 ARTICLES OF APPAREL AND CLOTHING ACCESSORIES, KNITTED OR CROCHETED 87.45 103.64 10 3.070 18.511 16.19

 



Taiwan Export to Italy, top 10 products
(million US$)

TIME PERIOD: 2023/01 - 2023/12
CCC_CODE CODE_NAME 2022/01 - 2022/12 2023/01 - 2023/12 RANKING SHARE(%) GROWTH RATE(%) CHANGE AMOUNT
TOTAL Italy
(CCC_CODE: ALL)
2,896.58 2,414.23 --- 100 -16.652 -482.35

 

 

 

 

 

 
72 Chapter 72 iron and steel 625.44 539.27 1 22.337 -13.778 -86.17
84 Chapter 84 nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 489.72 473.01 2 19.593 -3.412 -16.71
85 Chapter 85 electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles 417.89 378.14 3 15.663 -9.513 -39.75
87 Chapter 87 vehicles other than railway or tramway rolling-stock, and parts and accessories thereof 471.87 303.27 4 12.562 -35.730 -168.60
73 Chapter 73 articles of iron or steel 160.55 111.21 5 4.607 -30.732 -49.34
39 Chapter 39 plastics and articles thereof 131.45 103.90 6 4.304 -20.959 -27.55
90 Chapter 90 optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 86.24 77.61 7 3.215 -10.006 -8.63
82 Chapter 82 tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 56.40 53.84 8 2.230 -4.546 -2.56
38 Chapter 38 miscellaneous chemical products 47.17 39.99 9 1.656 -15.223 -7.18
29 Chapter 29 organic chemicals 47.84 36.51 10 1.512 -23.696 -11.34

 

 

Economic Cooperation Forum between Taiwan and Italy

Since 2011 an annual bilateral meeting is held alternatevly in Taiwan and Italy for the promotion of economic cooperation. Last business cooperation meeting was held in Milan, in November 2023 with Cieca and Confindustria.

 

TRADE PROMOTION SERVICES
 

www.taiwantrade.com.tw, Taiwan business database, Taiwan national B2B e-portal

www.taitra.com.tw, Taiwan External Trade Development Council (TAITRA)

https://www.trade.gov.tw/English/, Bureau of Foreign Trade

www.taipeitradeshows.com.tw, Taiwan Trade Shows Calendar

Taiwan excellent spirits and wine producers

 

 

 

LINKS
 

Customs Laws and Regulations, http://eweb.customs.gov.tw/dp.asp?mp=21

Travelers, https://etaipei.customs.gov.tw/multiplehtml/3396

Exporter/importer registration System, https://fbfh.trade.gov.tw/fb/web/homef.do#tabsE 

Quarantine regulation, https://www.aphia.gov.tw/en/ws.php?id=14258  

International trade shows, http://www.taipeitradeshows.com.tw




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