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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$

2011

2012

2013

2014

2015

2016

2017

growth rate

exports 308.253 301,177 305,437 313,753 280,384 280,317 317,244 13.173%
imports 281,434 270,469 269,893 274,212 228,616 230,564 259,261 12.447%
total         508,999 510,881 576,506 12.845%

balance

26,818 30,707 35,544 39,541 51,768 49,754 57,983 16.54%



Taiwan Main Trading partners 2017 (US$)


 
TOTAL TRADE EXPORT IMPORT
COUNTRY NAME RANKING AMOUNT SHARE RANKING AMOUNT SHARE RANKING AMOUNT SHARE
CHINA

1

139,021,928,434

24.115

1

88,980,537,015

28.048

1

50,041,391,419

19.302

UNITED STATES

2

67,178,301,601

11.653

3

36,941,876,848

11.645

3

30,236,424,753

11.663

JAPAN

3

62,724,338,677

10.880

4

20,781,929,446

6.551

2

41,942,409,231

16.178

HONG KONG

4

42,743,149,769

7.414

2

41,231,261,371

12.997

26

1,511,888,398

0.583

KOREA,REPUBLIC OF

5

31,626,672,606

5.486

6

14,732,692,857

4.644

4

16,893,979,749

6.516

SINGAPORE

6

26,340,885,191

4.569

5

17,624,918,918

5.556

6

8,715,966,273

3.362

MALAYSIA

7

17,551,133,542

3.044

8

10,369,026,858

3.268

8

7,182,106,684

2.770

GERMANY,FEDERAL REPUBLIC OF

8

15,653,111,353

2.715

10

6,453,004,560

2.034

5

9,200,106,793

3.549

VIET NAM

9

13,623,229,231

2.363

7

10,502,693,495

3.311

17

3,120,535,736

1.204

PHILIPPINES

10

11,971,616,674

2.077

9

9,593,259,269

3.024

22

2,378,357,405

0.917

ITALY

20

4,660,059,240

0.808

19

2,133,402,773

0.672

21

2,526,656,467

0.975

 

                 

TWO WAY TRADE WITH ITALY
 

In 2017 total trade has expanded again and the exchanges have reached US$ 4.660 billion (share 0.81%).

Taiwan exports to Italy were US$ 2.133 billion (share 0.67%) and imports from Italy counted US$ 2.527 billion (share 0.97%). Italy is Taiwan's 5th trade partner in EU after Germany, Holland, UK and France maintaining its position in the ranking and 20th partner in the world losing one position.

 

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

rank

product

2017

share %

growth %

total total 2,526.66 100 14.611
1 Electronic Integrated Circuit 345.51 13.675 30.79
2 Trunks, suit-cases, vanity-cases, executive-cases,brief-cases, etc. 163.48 6.470 5.551
3 Medicaments 152.00 6.016 -0.834
4 Acyclic hydrocarbons 128.12 5.071 1,699.4
5 Motor cars and other motor vehicles  93.88 3.716 19.466
6 Oscilloscopes, spectrum analysers and other instruments and apparatus for measuring or checking electrical quantities

 

78.96 3.125 103.834
7 Miscellaneous 68.87 2.726 22.687
8 Footwear with outer soles of rubber, plastics, leather orcomposition leather

 

51.80 2.05 -8.133
9 Article of jewellery and parts thereof 46.35 1.835 5.258
10 Compression-ignition internal combustion piston engines (diesel) 28.85 1.142 9.882



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

rank

product

2017

share %

growth %

total total 2,133.40 100 14.663
1 Flat-rolled products of stainless steel 231.42 10.847 28.199
2 Turbo-jets, turbo-propellers and other gas turbines 168.66 7.906 120.794
3 Parts and accessories of vehicles of headings 87.11 to 87.13 121.47 5.694 17.494
4 Parts and accessories of the motor vehicles of headings87.01 to 87.05 100.85 4.727 8.267
5 Screws, bolts, nuts, etc. 95.53 4.478 18.476
6 Machining centres, single station and multi-station transfer machines, for working metal 54.76 2.567 28.646
7 Motorcycles and cycles filled with an auxiliary motor, side-cars 53.54 2.510 34.169
8 Transmission shafts and cranks; bearing housings and plain shaft bearings 41.17 1.93 26.662
9 Diodes, transistors and similar semiconductor devices 39.85 1.868 14.718
10 Telephone sets 39.48 1.850 32.636

 

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 meeting was held in September 2017 (7th edition).

 

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)

http://eweb.trade.gov.tw, Bureau of Foreign Trade

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

The First B2B Mobile Application, Taiwan Products at your fingertips

Taiwan excellent spirits and wine producers

 

LINKS
 

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

Import duties, Tariff Database Search, http://www.customs.gov.tw/RateWebEn/Search1.aspx

Import and Export Regulations, Bureau of Foreign Trade, http://eweb.trade.gov.tw/mp.asp?mp=2

Quarantine regulation, http://www.baphiq.gov.tw/homeweb5.php

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




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