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Taiwan

U.S.-Taiwan Trade Facts

U.S. goods and services trade with Taiwan totaled an estimated $94.5 billion in 2018. Exports were $40.3 billion; imports were $54.2 billion. The U.S. goods and services trade deficit with Taiwan was $13.9 billion in 2018.

Taiwan is currently our 11th largest goods trading partner with $76.0 billion in total (two way) goods trade during 2018. Goods exports totaled $30.2 billion; goods imports totaled $45.8 billion. The U.S. goods trade deficit with Taiwan was $15.5 billion in 2018.

Trade in services with Taiwan (exports and imports) totaled an estimated $18.5 billion in 2018. Services exports were $10.0 billion; services imports were $8.4 billion. The U.S. services trade surplus with Taiwan was $1.6 billion in 2018.

According to the Department of Commerce, U.S. exports of Goods and Services to Taiwan supported an estimated 208 thousand jobs in 2015 (latest data available) (130 thousand supported by goods exports and 79 thousand supported by services exports).

Exports

  • Taiwan was the United States' 15th largest goods export market in 2018.
     
  • U.S. goods exports to Taiwan in 2018 were $30.2 billion, up 17.5% ($4.5 billion) from 2017, and up 21.3% from 2008. U.S. exports to Taiwan account for 1.8% of overall U.S. exports in 2018.
     
  • The top export categories (2-digit HS) in 2018 were: electrical machinery ($4.8 billion), machinery ($4.7 billion), mineral fuels ($3.8 billion), aircraft ($2.6 billion), and optical and medical instruments ($2.1 billion).
     
  • U.S. total exports of agricultural products to Taiwan totaled $3.9 billion in 2018, our 8th largest agricultural export market. Leading domestic export categories include: soybeans ($830 million), corn ($594 million), beef & beef products ($550 million), wheat ($267 million), and fresh fruit ($200 million).
     
  • U.S. exports of services to Taiwan were an estimated $10.0 billion in 2018, 1.7% ($171 million) more than 2017, and 61.8% greater than 2008 levels. Leading services exports from the U.S. to Taiwan were in the intellectual property (industrial processes), transport, and travel sectors.

Imports

  • Taiwan was the United States' 13th largest supplier of goods imports in 2018.
     
  • U.S. goods imports from Taiwan totaled $45.8 billion in 2018, up 7.8% ($3.3 billion) from 2017, and up 26.0% from 2008.  U.S. imports from Taiwan account for 1.8% of overall U.S. imports in 2018.
     
  • The top import categories (2-digit HS) in 2018 were: electrical machinery ($14 billion), machinery ($9.8 billion), iron and steel products ($3.1 billion), vehicles ($2.8 billion), and plastics ($2.0 billion).
     
  • U.S. total imports of agricultural products from Taiwan totaled $400 million in 2018. Leading categories include: nursery products ($63 million), snack foods ($53 million), processed fruit & vegetables ($45 million), other vegetable oils ($17 million), and tea, including herb ($17 million).
     
  • U.S. imports of services from Taiwan were an estimated $8.4 billion in 2018, 4.4% ($358 million) more than 2017, and 35.3% greater than 2008 levels. Leading services imports from Taiwan to the U.S. were in the transport, travel, and research and development sectors.

Trade Balance

  • The U.S. goods trade deficit with Taiwan was $15.5 billion in 2018, a 7.3% decrease ($1.2 billion) over 2017.
     
  • The United States has a services trade surplus of an estimated $1.6 billion with Taiwan in 2018, down 10.4% from 2017.

Investment

  • U.S. foreign direct investment (FDI) in Taiwan (stock) was $17.0 billion in 2017, a 6.9% increase from 2016. U.S. direct investment in Taiwan is led by manufacturing, wholesale trade, and finance and insurance.
     
  • Taiwan's FDI in the United States (stock) was $8.1 billion in 2017 (latest data available), up 6.4% from 2016. Taiwan's direct investment in the U.S. is led by manufacturing, depository institutions, and wholesale trade.
     
  • Sales of services in Taiwan by majority U.S.-owned affiliates were $7.4 billion in 2016 (latest data available), while sales of services in the United States by majority Taiwan-owned firms were $2.5 billion.