Latest reading: Merchandise exports soared 15.1% annually in May, on the heels of April’s 7.6% rise. May’s result marked the...
Merchandise Exports in Taiwan
Merchandise exports were worth USD 475 billion in 2024 in Taiwan compared to USD 319 billion ten years earlier, and averaged USD 319 billion over the last decade. For more exports information, visit our dedicated page.
Taiwan Merchandise Exports Chart
Note: This chart displays Exports (USD billion) for Taiwan from 2014 to 2024.
Source: Macrobond.
Taiwan Merchandise Exports Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Merchandise Exports (USD bn) | 345 | 446 | 479 | 432 | 475 |
| Merchandise Exports (ann. var. %) | 4.9 | 29.3 | 7.4 | -9.8 | 9.8 |
Merchandise exports accelerate in May
Latest reading: Merchandise exports shot up 38.6% year-on-year in May (April: +29.9% year-on-year). May’s result marked the fastest expansion since July 2010, and was linked to front-loading ahead of possible U.S. tariffs plus strong global demand for AI applications. Meanwhile, merchandise imports climbed 25.0% in annual terms in May (April: +33.0% yoy). As a result, the merchandise trade balance improved from the previous month, recording a USD 12.6 billion surplus in May (April 2025: USD 7.2 billion surplus; May 2024: USD 6.0 billion surplus). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 92.7 billion surplus in May, compared to the USD 86.1 billion surplus in April.
Panelist insight: On the outlook, Nomura analysts said: “Despite the tariff shock, we expect export growth to extend its solid performance on strong demand for AI GPU servers (Blackwell) and rising chip prices, which may offset weak demand for non-tech products. Although we believe the tariff shock could substantially lower export growth, due to a likely payback from frontloading demand, a continued ramp-up in Blackwell production may partly offset the likely negative impact from the tariff-induced growth slowdown in H2.”
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Taiwanese merchandise exports projections for the next ten years from a panel of 5 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable merchandise exports forecast available for Taiwanese merchandise exports.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Taiwanese merchandise exports projections.
Want to get access to the full dataset of Taiwanese merchandise exports forecasts? Send an email to info@focus-economics.com.
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