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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$

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




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