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Taiwan Merchandise Imports

Taiwan Merchandise Imports

Merchandise Imports in Taiwan

Merchandise imports by Taiwan were worth USD 428 billion in 2022, compared to USD 277 billion in 2012, and averaged USD 295 billion over the decade. For more imports information, visit our dedicated page.

Taiwan Merchandise Imports Chart

Note: This chart displays Imports (USD billion) for Taiwan from 2014 to 2023.
Source: Ministry of Finance Taiwan.

Taiwan Merchandise Imports Data

2018 2019 2020 2021 2022
Merchandise Imports (USD bn) 285 286 286 382 428
Merchandise Imports (ann. var. %) 10.7 0.3 0.2 33.5 12.1

Merchandise exports rise at a softer rate in April

Merchandise exports increased 4.3% in annual terms in April (March: +18.9% year-on-year). The increase was driven by a more than doubling of IT exports on the back of surging global demand for AI-related products. Rising shipments to the U.S. and ASEAN more than offset lower exports elsewhere. However, exports rose less than half as fast as market analysts had been expecting. Meanwhile, merchandise imports rose 6.6% in annual terms in April (March: +7.1% yoy). As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 6.5 billion surplus in April (March 2024: USD 8.7 billion surplus; April 2023: USD 6.8 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 90.6 billion surplus in April, compared to the USD 91.0 billion surplus in March.

On growing U.S.-Taiwan trade ties, ING’s Lynn Song said: “Since 2022, Taiwan's export growth to the US has significantly outpaced the headline export growth, and thus far in the year to date this growth has remained very impressive with exports to the US up 81.6% YoY in April, and up 64.1% YoY through the first four months of the year. […] it looks like the fate of Taiwan exports is heavily tied to semiconductor sales to the US for now, leaving economic growth prospects intertwined with continued AI-driven demand.”

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 imports 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 imports forecast available for Taiwanese merchandise imports.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Taiwanese merchandise imports projections.

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