U.S.-Taiwan Trade Facts
- In 2019, Taiwan’s GDP was an estimated $586.1 billion (current market exchange rates); real GDP was up by an estimated 2.7%; and the population was 24 million. (Source: IMF)
- U.S. goods and services trade with Taiwan totaled an estimated $103.9 billion in 2019. Exports were $42.3 billion; imports were $61.6 billion. The U.S. goods and services trade deficit with Taiwan was $19.3 billion in 2019.
- Taiwan is currently our 10th largest goods trading partner with $85.5 billion in total (two-way) goods trade during 2019. Goods exports totaled $31.3 billion; goods imports totaled $54.3 billion. The U.S. goods trade deficit with Taiwan was $23.0 billion in 2019.
- Trade in services with Taiwan (exports and imports) totaled an estimated $18.4 billion in 2019. Services exports were $11.0 billion; services imports were $7.4 billion. The U.S. services trade surplus with Taiwan was $3.7 billion in 2019.
- According to the U.S. Department of Commerce, U.S. exports of goods and services to Taiwan supported an estimated 208,000 jobs in 2015 (latest data available), with 130,000 jobs supported by goods exports and 79,000 jobs supported by services exports.
- Taiwan was the United States' 13th largest goods export market in 2019.
- U.S. goods exports to Taiwan in 2019 were $31.3 billion, up 2.7% ($814 million) from 2018 and up 69.3% from 2009. U.S. exports to Taiwan accounted for 2% of overall U.S. exports in 2019.
- The top export categories (2-digit HS) in 2019 were: machinery ($5.6 billion); mineral fuels ($4.5 billion); electrical machinery ($4.5 billion); aircraft ($2.7 billion); and optical and medical instruments ($2.2 billion).
- U.S. exports of agricultural products to Taiwan totaled $3.6 billion in 2019, making Taiwan the United States’ 6th largest agricultural export market. Leading domestic export categories included: soybeans ($685 million); beef & beef products ($568 million); wheat ($324 million); fresh fruit ($252 million); and corn ($228 million).
- U.S. exports of services to Taiwan were an estimated $11.0 billion in 2019, 2.8% ($296 million) more than in 2018, and 60.2% greater than the 2009 level. Leading services exports from the United States to Taiwan were in the transport, travel, and intellectual property (industrial processes) sectors.
- Taiwan was the United States' 13th largest supplier of goods imports in 2019.
- U.S. goods imports from Taiwan totaled $54.3 billion in 2019, up 18.6% ($8.5 billion) from 2018, and up 91.3% from 2009. U.S. imports from Taiwan accounted for 2.2% of overall U.S. imports in 2019.
- The top import categories (2-digit HS) in 2019 were: electrical machinery ($16 billion); machinery ($16 billion); iron and steel products ($3.0 billion); vehicles ($3.0 billion); and plastics ($2.1 billion).
- U.S. imports of agricultural products from Taiwan totaled $457 million in 2019. Leading categories included: snack foods ($68 million); nursery products ($67 million); processed fruit and vegetables ($50 million); tea, including herbal tea ($20 million); and other vegetable oils ($17 million).
- U.S. imports of services from Taiwan were an estimated $7.4 billion in 2019, 1.8% ($135 million) less than in 2018, but 54.7% greater than the 2009 level. Leading services imports from Taiwan to the United States were in the transport, travel, and research and development sectors.
- The U.S. goods trade deficit with Taiwan was $23.0 billion in 2019, a 50.5% increase ($7.7 billion) from 2018.
- The United States had a services trade surplus of an estimated $3.7 billion with Taiwan in 2019, up 13.3% from 2018.
- U.S. foreign direct investment (FDI) in Taiwan (stock) was $17.4 billion in 2019, a 4.8% increase from 2018. U.S. FDI in Taiwan is led by manufacturing, finance and insurance, and wholesale trade.
- Taiwan's FDI in the United States (stock) was $11.1 billion in 2019, up 5.6% from 2018. Taiwan's direct investment in the United States is led by manufacturing, wholesale trade, and depository institutions.
- Sales of services in Taiwan by majority U.S.-owned affiliates were $7.4 billion in 2017 (latest data available), while sales of services in the United States by majority Taiwan-owned firms were $3.1 billion.