With a population of some 23 million, Taiwan exported US$38.2 billion worth of merchandise to the United States in 2006, up 9.7% from 2005 and up 19% since 2002.
Taiwanese imports from the U.S. rose 4.3% to $23 billion in 2006, up 25.3% since 2002. Taiwan is America's eight-largest supplier of imports.
In terms of the merchandise flow between the two countries, America’s trade deficit with Taiwan was $15.2 billion in 2006, up 25.2% from 2002. The U.S. trade deficit with Taiwan increased 19.1% in 2006 – up from the 1% deficit decrease in 2005 from the year earlier.
Taiwanese Exports to U.S.
Of the $38.2 billion in American imports from Taiwan in 2006, the following product categories had the highest values.
- Semiconductors …US$4.4 billion (11.6% of Taiwanese to U.S. exports, up 19.5% from 2005)
- Computer accessories, peripherals & parts … $4.1 billion (10.6%, down 4.8%)
- Household products (e.g. clocks) … $2.5 billion (6.5%, up 49.5%)
- Video equipment (e.g. televisions, DVD players) … $2.1 billion (5.6%, up 8.5%)
- Telecommunications equipment … $1.9 billion (5.1%, up 52.5%)
- Automotive parts & accessories … $1.6 billion (4.3%, up 4.8%)
- Electronic apparatus & parts … $1.49 billion (3.9%, up 4.5%)
- Advanced manufactured iron & steel … $1.47 billion (3.8%, up 1%)
- Blank media (e.g. audio & visual tapes) … $1.4 billion (3.6%, up 0.3%)
- Semifinished iron & steel mill products … $1.3 billion (3.4%, up 140.3%).
The above product categories represent over 58% of total Taiwanese to U.S. exports.
Fastest-Growing Taiwanese Exports to U.S.
Below are American imports from Taiwan in 2006 with the highest percentage sales increases from 2005.
- Gold … US$10.1 million (up 1,701% from 2005)
- Precious metals other than gold … $36.6 million (up 959%)
- Diamonds … $866 thousand (up 305%)
- Rubber … $4 million (up 305%)
- Tin … $483 thousand (up 299%).
Taiwanese Imports from U.S.
Of the $23 billion in semiconductors & computer parts in 2006, the following product categories had the highest values.
- Semiconductors …US$4.1 billion (17.9% of Taiwanese to U.S. exports, up 8.5% from 2005)
- Other industrial machines … $2.3 billion (9.9%, up 3.6%)
- Measuring, testing & control instruments … $1.2 billion (5.3%, up 19.6%)
- Organic chemicals … $1 billion (4.4%, up 8.8%)
- Civilian aircraft … $982.7 million (4.3%, down 41.1%)
- Metalworking machine tools … $862.6 million (3.7%, up 52.3%)
- Corn … $626.1 million (2.7%, up 8%)
- Plastic materials … $573 million (2.5%, up 0.4%)
- Soybeans … $527.3 million (2.3%, up 19%)
- Computer accessories … $517.9 million (2.2%, down 0.2%).
The above product categories represent 55% of total Taiwanese imports from the U.S.
Fastest-Growing Taiwanese Imports from U.S.
Below are U.S. exports to Taiwan in 2006 with the highest percentage sales increases from 2005.
- Coal … US$230 thousand (up 4,500% from 2005)
- Nursery stock … $353 thousand (up 390%)
- Non-farm tractors & parts … $2.5 million (up 357%)
- Railway transportation equipment … $69.2 million (up 321%)
- Tanks, artillery, missiles, rockets, guns & ammunition … $172.8 million (up 154%).
Sources
This analysis is based on latest statistics from the US Census Bureau - Foreign Trade Statistics and CIA World Factbook as of the date of article publication.
Daniel Workman - A senior business and finance writer who also does French translations, notably international trade and insurance materials.
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