Taiwan 2020 Export Highlights (2024)

FAQs

What does Taiwan export in 2020? ›

In 2020, the largest export growth was in poultry meat & products (excluding eggs), up $37 million. Dairy products also rose, up 11 percent to $121 million. Virtually all other top commodities to Taiwan declined in value.

Taiwan's main exports are electronics, basic metals and metal products, plastics and rubber, chemicals, and machinery.

In 2022, Taiwan exported goods with a total value of nearly 480 billion U.S. dollars, accounting for more than 60 percent of its gross domestic product that year.

In 2023, Taiwan exported machinery and electrical equipment with a total value of about 52.4 billion U.S. dollars to the United States. It was the leading product category for exports from Taiwan to the United States, mainland China, Japan and other countries in 2023.

As well as being responsible for the vast majority of the world's most advanced semiconductor manufacturing facilities, Taiwan makes 83% of the world's servers, according to the MOEA. For AI servers the percentage climbs to 90%, and when factoring American brand vendors it is 100%.

February 20, 2021 Taiwan's real gross domestic product (GDP) grew by 5.09% from the same quarter of the previous year in 2020Q4, according to the latest preliminary estimate. For the whole 2020, the economic growth rate was 3.11%.

Taiwan produces over 60% of the world's semiconductors and over 90% of the most advanced ones. Most are manufactured by a single company, Taiwan Semiconductor Manufacturing Corporation (TSMC).

In 2021, of the $ 36.9 billion in U.S. exports to Taiwan, the top commodity sectors were Machinery & Mechanical Appliances (38.6%), Oils, Minerals, Lime, and Cement (13.2%), and Chemicals, Plastics, Rubber, and Leather goods (13.1%).

Taiwan is a highly advanced economy producing an estimated $786 billion in goods and services in 2021. The United States and Taiwan have deep and growing commercial, financial, and trade ties, which advance U.S. interests and help create economic opportunities in the United States.

What resources does Taiwan export? ›

The top five Taiwan export categories to the United States included Food Preparation ($193 million), Bakery Goods ($184 million), Seafood ($153 million), Nursery products ($69 million) and Non-alcoholic Beverages ($59 million).

U.S. goods and services trade with Taiwan totaled an estimated $160.0 billion in 2022. Exports were $54.5 billion; imports were $105.5 billion. The U.S. goods and services trade deficit with Taiwan was $51.0 billion in 2022.

China is Taiwan's largest trading partner, accounting for 22.6 percent of total trade and 19.6 percent of Taiwan's imports in 2022. In terms of total trade, other major Taiwan trading partners include Japan (9.7 percent), Hong Kong (7.3 percent), and the Republic of Korea (6.2 percent).

21 titled "Richest Countries in the World 2023," Global Finance listed Taiwan in 14th place out of 193 countries and territories. The top spot on the list was taken by Ireland, followed by Luxembourg, Singapore, Qatar, Macau, United Arab Emirates, Switzerland, Norway, the U.S., and San Marino, rounding out the top ten.

Taiwan holds an important position in the global economy. It is a top player in the world's information and communications technology industry as well as a major supplier of goods across the industrial spectrum.

Data compiled by the Ministry of Finance (MOF) revealed that the country's exports totalled USD 432.48 billion in 2023, marking the third-highest figure after USD 479.4 billion in 2022 and USD 446.4 billion in 2021, with the 2023 figure experiencing a 9.8% decrease from the previous year.