The first agreement under the U.S.-Taiwan Initiative on 21st Century Trade was signed on June 1, 2023.
Taiwan Trade & Investment Summary
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.
U.S. goods exports to Taiwan in 2022 were $44.2 billion, up 20.1 percent ($7.4 billion) from 2021 and up 82 percent from 2012. U.S. goods imports from Taiwan totaled $91.7 billion in 2022, up 19.1 percent ($14.7 billion) from 2021, and up 136 percent from 2012. U.S. exports to Taiwan account for 2.1 percent of overall U.S. exports in 2022. The U.S. goods trade deficit with Taiwan was $47.5 billion in 2022, a 18.1 percent increase ($7.3 billion) over 2021.
U.S. exports of services to Taiwan were an estimated $10.3 billion in 2022, 2.4 percent ($243 million) more than 2021, and 11 percent less than 2012 levels. U.S. imports of services from Taiwan were an estimated $13.8 billion in 2022, 38.8 percent ($3.9 billion) more than 2021, and 131 percent greater than 2012 levels. Leading services exports from the U.S. to Taiwan were in the intellectual property, transportation, and travel sectors. The United States had a services trade deficit of an estimated $3.5 billion with Taiwan in 2022, down 3802.1 percent from 2021.
U.S. foreign direct investment (FDI) in Taiwan (stock) was $16.7 billion in 2022, a 2.7 percent increase from 2021. U.S. direct investment in Taiwan is led by manufacturing, finance and insurance, and wholesale trade.
Taiwan's FDI in the United States (stock) was $16.1 billion in 2022, up 1.1 percent from 2021. Taiwan's direct investment in the U.S. is led by manufacturing, depository institutions, and wholesale trade.