"Foreign trade has been the engine of Taiwan's rapid growth during the past 50 years," the U.S. State Department reports. "Taiwan's economy remains export-oriented, so it depends on an open world trade regime and remains vulnerable to fluctuations in the world economy. The total value of trade increased more than five-fold in the 1960s, nearly ten-fold in the 1970s, doubled in the 1980s, and nearly doubled again in the 1990s. In the first half of this decade, exports grew 60%. Export composition changed from predominantly agricultural commodities to industrial goods (now 98%). The electronics sector is Taiwan's most important industrial export sector."
Export and Import Facts
- Taiwan's 2010 exports totaled an estimated US$247.6 billion
- Major exports include electronics, flat panels, machinery; metals; textiles, plastics, chemicals; and optical, photographic, measuring, and medical instruments
- Its 2010 imports totaled an estimated US$251.4 billion
- Major imports include electronics, machinery, crude petroleum, precision instruments, organic chemicals, and metals
Export/ Import Resources
Taiwan’s bilateral chambers of commerce offer some opportunities for networking that can help you establish new connections with importers and exporters in Taiwan. The following resources can help you explore your potential in this significant market.