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$	2015	2016	2017	2018	2019	2020	2021	2022	growth rate
exports	280,384	280,317	317,244	335,927	329,330	345.286	446.392	479,451	7.4%
imports	228,616	230,564	259,261	286,361	285,869	286.513	381.521	428,036	12.1%
total	508,999	510,881	576,506	622,288	615,199	631.800	827.914	907,486	9.5%
balance	51,768	49,754	57,983	49,566	43,461	58.773	64.871	51,415	-20.2%

Taiwan Main Trading partners 2022 (US$ mln)

 

 

CODE NO	COUNTRY NAME	TOTAL TRADE
		RANKING	AMOUNT	SHARE(%)
TOTAL	Global-Country	---	907,486.40	100.000

 

CODE NO	COUNTRY NAME	RANKING	AMOUNT	SHARE
CN	China	1	205,110.17	22.602
US	United States	2	120,473.74	13.276
JP	Japan	3	88,239.34	9.723
HK	Hong Kong	4	66,281.87	7.304
KR	Republic of Korea	5	56,448.64	6.220
SG	Singapore	6	42,053.07	4.634
AU	Australia	7	32,215.26	3.550
MY	Malaysia	8	30,558.03	3.367
DE	Germany	9	23,041.58	2.539
VN	Viet Nam	10	21,540.62	2.374
IT	ITALY	22	6,245.27	0.688

 

                 

TWO WAY TRADE WITH ITALY
 

In 2022 the total exchanges between Taiwan and Italy have reached US$ 6.245 billion (growth rate 0.69%).

Taiwan exports to Italy were US$ 2.896 billion (12.86%) and imports from Italy counted US$ 3.348 billion (11.11%). Italy is Taiwan's 4th trade partner in EU after Germany, Holland and UK and 22nd partner in the world.

 

 

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

 

TIME PERIOD: 2022/01 - 2022/12     2021 2022 RANKING % TOTAL Total 3,013.69 3,348.60 -- 11.113

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 539.21 520.44 1 -3.480 84 Chapter 84 nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 352.51 366.09 2 3.853 42 Chapter 42 articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silk-worm gut) 268.09 338.91 3 26.417 90 Chapter 90 optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 231.77 308.23 4 32.986 30 Chapter 30 pharmaceutical products 275.13 295.28 5 7.323 87 Chapter 87 vehicles other than railway or tramway rolling-stock, and parts and accessories thereof 163.66 159.83 6 -2.338 62 CHAPTER 62 ARTICLES OF APPAREL AND CLOTHING ACCESSORIES, NOT KNITTED OR CROCHETED 92.28 114.13 7 23.684 64 Chapter 64 footwear, gaiters and the like; parts of such articles 83.95 105.48 8 25.647 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 79.86 97.41 9 21.980 39 Chapter 39 plastics and articles thereof 78.52 97.34 10 23.966

 

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

 

2021 2022 RANKING (%) TOTAL Total 2,566.67 2,896.67 -- 12.857

72 Chapter 72 iron and steel 577.99 625.44 1 8.210 84 Chapter 84 nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 426.82 489.72 2 14.737 87 Chapter 87 vehicles other than railway or tramway rolling-stock, and parts and accessories thereof 375.57 471.90 3 25.650 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 355.87 417.96 4 17.446 73 Chapter 73 articles of iron or steel 138.63 160.55 5 15.816 39 Chapter 39 plastics and articles thereof 137.57 131.44 6 -4.454 90 Chapter 90 optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 71.41 86.24 7 20.766 82 Chapter 82 tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 57.68 56.40 8 -2.205 29 Chapter 29 organic chemicals 34.02 47.84 9 40.628 38 Chapter 38 miscellaneous chemical products 60.26 47.17 10 -21.720

 

 

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 Cooperation Forum was held in  December 2022.

 

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

https://www.anticovid19tw.org/, Anti Covid-19 Pavillion

 

 

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

Ufficio di Rappresentanza di Taipei - Viale Liegi n.17, 00198 Roma | Tel. 06-98262800 - P. Iva 97076980586