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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$

2012

2013

2014

2015

2016

2017

2018

2019

growth rate

exports 301,177 305,437 313,753 280,384 280,317 317,244 335,927 329,330 -1.4%
imports 270,469 269,893 274,212 228,616 230,564 259,261 286,361 285,869 0.37%
total       508,999 510,881 576,506 622,288 615,199 -0.59%

balance

30,707 35,544 39,541 51,768 49,754 57,983 49,566 43,461 -11.68%



Taiwan Main Trading partners 2019 (US$ mln)

 

Paese Posizione Commercio totale SHARE %
CHINA 1 149,281.05 24.265
UNITED STATES 2 81,085.68 13.180
JAPAN 3 67,325.08 10.944
HONG KONG 4 41,395.98 6.729
KOREA,REPUBLIC OF 5 34,671.14 5.636
SINGAPORE 6 26,105.43 4.243
MALAYSIA 7 19,838.59 3.225
VIET NAM 8 16,053.19 2.609
GERMANY,FEDERAL REPUBLIC OF 9 15,923.08 2.588
NETHERLANDS 10 13,744.01 2.234
ITALY 20 4,590.67 0.746

                 

TWO WAY TRADE WITH ITALY
 

In 2019 the total exchanges between Taiwan and Italy have reached US$ 4.591 billion (growth rate -8.56%).

Taiwan exports to Italy were US$ 1.979 billion (-15%) and imports from Italy counted US$ 2.612 billion (-2.98%). 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$)

 

TIME PERIOD: 2019/01 - 2019/12
CCC_CODE CODE_NAME 2018 2019 RANKING GROWTH RATE(%)
  Total 2,692.10 2,611.87 -- -2.980
16 Machinery and Mechanical Appliances ; Electrical Equipment ; Parts Thereof ; Sound Recorders and Reproducers, Television Image and Sound Recorders and Reproducers, and Parts and Accessories of Such Articles 807.15 806.95 1 -0.025
06 Products of The Chemical or Allied Industries 547.70 422.57 2 -22.847
08 Raw Hides and Skins, Leather, Furskins and Articles Thereof ; Saddlery and Harness ; Travel Goods, Handbags and Similar Containers ; Articles of Animal Gut (Other Then Silk-Worm Gut) 206.62 234.60 3 13.542
17 Vehicles, Aircraft, Vessels and Associated Transport Equipment 189.70 160.23 4 -15.535
18 Optical, Photographic, Cinematographic, Measuring, Checking, Precision, Medical or Surgical Instruments and Apparatus ; Clocks and Watches ; Musical Instruments ; Parts and Accessories Tnereof 153.50 155.63 5 1.389
11 Textiles and Textile Articles 130.10 149.72 6 15.077
07 Plastics and Articles Thereof; Rubber and Articles Thereof 89.37 89.95 7 0.655
12 Footwear, Headgear, Umbrellas, Sun Umbrellas, Walking-sticks, Seat-sticks, Whips, Riding-crops and Parts Thereof ; Prepared Feathers and Articles Made Therewith ; Artificial Flowers ; Articles of Human Hair 69.75 79.42 8 13.855
04 Prepared Foodstuffs; Beverages, Spirits and Vinegar; Tobacco and Manufactured Tobacco Substitutes 80.22 78.68 9 -1.918
21 Works of Art, Collectors' Pieces and Antiques 62.57 76.08 10 21.589



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

 

TIME PERIOD: 2019/01 - 2019/12
CCC_CODE CODE_NAME 2018 2019 RANKING GROWTH RATE(%)
  Total 334,026.01 329,329.95 -- -1.406
16 Machinery and Mechanical Appliances ; Electrical Equipment ; Parts Thereof ; Sound Recorders and Reproducers, Television Image and Sound Recorders and Reproducers, and Parts and Accessories of Such Articles 183,061.84 190,031.44 1 3.807
15 Base Metals and Articles of Base Metal 31,590.51 27,916.12 2 -11.631
07 Plastics and Articles Thereof; Rubber and Articles Thereof 25,278.22 22,583.59 3 -10.660
06 Products of The Chemical or Allied Industries 22,151.72 18,677.28 4 -15.685
18 Optical, Photographic, Cinematographic, Measuring, Checking, Precision, Medical or Surgical Instruments and Apparatus ; Clocks and Watches ; Musical Instruments ; Parts and Accessories Tnereof 16,549.09 16,066.64 5 -2.915
05 Mineral Products 14,530.50 14,043.55 6 -3.351
17 Vehicles, Aircraft, Vessels and Associated Transport Equipment 11,246.84 11,266.52 7 0.175
11 Textiles and Textile Articles 10,076.68 9,181.77 8 -8.881
20 Miscellaneous manufactured Articles 5,006.28 5,231.60 9 4.501
04 Prepared Foodstuffs; Beverages, Spirits and Vinegar; Tobacco and Manufactured Tobacco Substitutes 2,489.35 2,586.41 10 3.899

 

 

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). In 2018, the Joined Business Council was held on the 9th of October. Last Cooperation Forum was held in  April 2019.

 

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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