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Sunday, 08 November 2009   |   Last Updated: 23 July 2009

 

Taiwan

Taiwan FlagU.S.-Taiwan Trade Facts

U.S. goods and services trade with Taiwan totaled $79 billion in 2007 (latest data available). Exports totaled $33 billion; Imports totaled $45 billion. The U.S. goods and services trade deficit with Taiwan was $12 billion in 2007.

Taiwan is currently our 12th largest goods trading partner with $61 billion in total (two ways) goods trade during 2007. Goods exports totaled $25 billion; Goods imports totaled $36 billion. The U.S. goods trade deficit with Taiwan was $11 billion in 2008.

Trade in services with Taiwan (exports and imports) totaled $14.2 billion in 2007 (latest data available). Services exports were $7.0 billion; Services imports were $7.2 billion. The U.S. services trade surplus with Taiwan was $185 million in 2007.

Exports

Taiwan was the United States' 13th largest goods export market in 2008.

U.S. goods exports to Taiwan in 2008 were $24.9 billion, down 5.3% ($1.4 billion) from 2007, but up 46% from 1994 (the year prior to Uruguay Round). U.S. exports to Taiwan accounted for 1.9% of overall U.S. exports in 2008, down from 3.3% in 1994.

The top export categories (2-digit HS) in 2008 were: Electrical Machinery ($6.5 billion), Machinery ($3.9 billion), Iron and Steel ($1.4 billion), Optic and Medical Instruments ($1.4 billion), and Organic Chemicals ($1.3 billion).

U.S. exports of agricultural products to Taiwan totaled $3.4 billion in 2008, the 6th largest U.S. Ag export market. Leading categories include: soybeans ($952 million), coarse grains ($814 million), wheat ($327 million), red meats fresh/chilled/frozen ($177 million), and fresh fruit ($153 million).

U.S. exports of private commercial services* (i.e., excluding military and government) to Taiwan were $7.0 billion in 2007 (latest data available), 6.9% ($516 million) less than 2006 but up 67.4% ($2.8 billion) from 1994 level. Other transportation and other private services (business, professional and technical services and education) categories accounted for most of U.S. services exports to Taiwan in 2007.

Imports

Taiwan was the United States' 12th largest supplier of goods imports in 2008.

U.S. goods imports from Taiwan totaled $36.3 billion in 2008, a 5.1% decrease ($2.0 billion) from 2007, but up 36% over the last 14 years. U.S. imports from Taiwan account for 1.7% of overall U.S. imports in 2008, down from 4.0% in 1994.

The five largest import categories in 2008 were: Electrical Machinery ($14.6 billion), Machinery ($5.5 billion), Iron and Steel Products (screws, bolts, nuts) ($2.2 billion), Vehicles ($2.0 billion), and Plastic ($1.4 billion).

U.S. imports of agricultural products from Taiwan totaled $237 million in 2008. Leading categories include: processed fruit and vegetables ($31 million).nursery products and cut flowers ($27 million), and snack foods (including chocolate) ($26 million).

U.S. imports of private commercial services* (i.e., excluding military and government) were $7.2 billion in 2007 (latest data available), up 3.9% ($268 million) from 2006, and up 170% ($4.5 billion) from 1994 level. Other transportation and passenger fares categories accounted for most of U.S. services imports from Taiwan.

Trade Balance

The U.S. goods trade deficit with Taiwan was $11.4 billion in 2008, a 4.7% decrease ($569 million) over 2007. The U.S. goods trade deficit with Taiwan accounted for 1.4% of the overall U.S. goods trade deficit in 2008.

The United States has a services trade deficit of $185 million with Taiwan in 2007 (latest data available).

Investment

U.S. foreign direct investment (FDI) in Taiwan (stock) was $16.4 billion in 2007 (latest data available), the same as in 2006.

U.S. direct investment in Taiwan is primarily concentrated in the finance, manufacturing, and wholesale trade sectors.

Taiwan FDI in the United States (stock) was $4.4 billion in 2007 (latest data available), up 5.9% from 2006.

Taiwan direct investment in the U.S. is mostly in the manufacturing, wholesale trade, and banking sectors.

Sales of services in Taiwan by majority U.S.-owned affiliates were $7.8 billion in 2006 (latest data available), while sales of services in the United States by majority Taiwanese-owned firms were $3.3 billion.

*NOTE: Refers to private services trade not including U.S. military sales, direct defense expenditures, and other miscellaneous U.S. government services.