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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

growth rate

exports 301,177 305,437 313,753 280,384 280,317 317,244 335,927 5.89%
imports 270,469 269,893 274,212 228,616 230,564 259,261 286,361 10.45%
total       508,999 510,881 576,506 622,288 7.94%

balance

30,707 35,544 39,541 51,768 49,754 57,983 49,566 -14.52%



Taiwan Main Trading partners 2018 (US$ mln)

 

COUNTRY NAME RANKING TOTAL TRADE SHARE
CHINA 1 150,544.34 24.192
UNITED STATES 2 74,411.96 11.958
JAPAN 3 67,221.74 10.802
HONG KONG 4 43,001.05 6.910
KOREA,REPUBLIC OF 5 35,511.49 5.707
SINGAPORE 6 25,776.45 4.142
MALAYSIA 7 19,848.17 3.190
GERMANY,FEDERAL REPUBLIC OF 8 17,025.88 2.736
VIET NAM 9 14,505.70 2.331
AUSTRALIA 10 13,151.60 2.113
ITALY 22 5,146.59 0.83

 

                 

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$)

 

TIME PERIOD: 2018/01 - 2018/12
CODE_NAME 2017 2018 RANKING SHARE(%) GROWTH RATE(%)
Rank Total imports 2,526.66 2,690.68 -- 100 6.492
1 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 432.46 457.78 1 17.013 5.856
2 Chapter 84 nuclear reactors, boilers machinery and machanical appliances; parts thereof 332.26 349.09 2 12.974 5.064
3 Chapter 29 organic chemicals 157.48 204.48 3 7.600 29.844
4 Chapter 30 pharmaceutical products 173.37 202.85 4 7.539 17.005
5 Chapter 42 articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silk-worm gut) 177.55 196.75 5 7.312 10.812
6 Chapter 90 optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 146.29 150.51 6 5.594 2.886
7 Chapter 87 vehicles other than railway or tramway rolling-stock, and parts and accessories thereof 132.40 125.51 7 4.665 -5.204
8 Chapter 39 plastics and articles thereof 60.04 68.43 8 2.543 13.988
9 CHAPTER 62 ARTICLES OF APPAREL AND CLOTHING ACCESSORIES, NOT KNITTED OR CROCHETED 59.80 68.13 9 2.532 13.930
10 Chapter 64 footwear, gaiters and the like; parts of such articles 63.40 66.49 10 2.471 4.885



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

 
TIME PERIOD: 2018
  CODE_NAME 2017 2018 RANKING SHARE

(%)

GROWTH

RATE(%)

Rank Total Exports 2,133.40 2,455.91 -- 100 15.117
1 Chapter 84 nuclear reactors, boilers machinery and machanical appliances; parts thereof 486.06 540.13 1 21.993 11.125
2 Chapter 72 iron and steel 336.02 470.25 2 19.148 39.946
3 Chapter 87 vehicles other than railway or tramway rolling-stock, and parts and accessories thereof 307.34 321.46 3 13.089 4.592
4 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 278.76 320.74 4 13.060 15.060
5 Chapter 73 articles of iron or steel 119.59 133.34 5 5.429 11.498
6 Chapter 39 plastics and articles thereof 105.72 107.71 6 4.386 1.882
7 Chapter 90 optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 60.66 66.42 7 2.704 9.491
8 Chapter 82 tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 52.54 51.67 8 2.104 -1.656
9 Chapter 29 organic chemicals 52.89 50.38 9 2.051 -4.760
10 Chapter 40 rubber and articles thereof 38.70 40.49 10 1.649 4.615

 

 

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. Next Cooperation Forum is scheduled 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

 

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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