Taiwan

Taiwan ranked No. 9 in total trade value through May with a total of $35.76 billion. Exports totaled $12.9 billion and Imports totaled $22.87 billion, a deficit of $9.97 billion.

U.S. trade with Taiwan rose to $28.72 billion through May

Taiwan’s trade with the United States rose to $28.72 billion through the first five months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 6.85 percent above its total trade during the same time period last year. U.S. exports to Taiwan increased 8.95 percent while U.S. imports from Taiwan rose 5.63 percent. The U.S. deficit with Taiwan was $7.31 billion.

Through May, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Los Angeles; No. 2 San Francisco International Airport, Calif.; No. 3 Los Angeles International Airport; No. 4 Chicago O’Hare International Airport; and No. 5 Anchorage International Airport, Alaska. During the same period the previous year, the top five were No. 1 Port of Los Angeles; No. 2 San Francisco International Airport, Calif.; No. 3 Los Angeles International Airport; No. 4 Port of Long Beach and No. 5 Anchorage International Airport, Alaska. In the current time period, the top five accounted for 45.48 percent of Taiwan’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Los Angeles rose 6.62 percent to $6.22 billion.
    Exports rose 10.82 percent to $779.76 million. Imports rose 6.04 percent to $5.44 billion.
  • Trade with No. 2 San Francisco International Airport, Calif. fell 2.05 percent to $3 billion.
    Exports rose 10.63 percent to $1.44 billion. Imports fell 11.39 percent to $1.56 billion.
  • Trade with No. 3 Los Angeles International Airport rose 21.61 percent to $2.6 billion.
    Exports fell 6.46 percent to $771.7 million. Imports rose 39.21 percent to $1.83 billion.
  • Trade with No. 4 Chicago O’Hare International Airport rose 27.1 percent to $2.22 billion.
    Exports rose 16.76 percent to $512.55 million. Imports rose 30.57 percent to $1.71 billion.
  • Trade with No. 5 Anchorage International Airport, Alaska rose 13.64 percent to $2.22 billion.
    Exports rose 11.31 percent to $552.84 million. Imports rose 14.44 percent to $1.67 billion.

Taiwan ranked No. 9 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 10.

Meanwhile, total U.S. trade with the world increased to $1.48 trillion, down 64.27 percent compared to the same period last year. The nation’s exports dropped 64.62 percent to $582.11 billion; imports dropped 64.04 percent to $898.44 billion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $316.33 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Taiwan by value through May were the categories of Machinery, parts for semiconductor manufacturing; Oil; Computer chips; Civilian aircraft, parts; and Passenger vehicles, respectively. They accounted for 41.19 percent of total exports to Taiwan.

The value of the top five categories of U.S. imports from Taiwan –– Computers; Computer parts; Cell phones, related equipment; Computer chips; and Digital storage devices –– accounted for 39.69 percent of all inbound shipments.

Looking more closely at U.S. exports to Taiwan:

  • Machinery, parts for semiconductor manufacturing rose 10.97 percent compared to last year to $1.57 billion.
  • Oil fell 16.52 percent compared to last year to $1.4 billion.
  • Computer chips rose 29.29 percent compared to last year to $1.36 billion.
  • Civilian aircraft, parts fell 34.9 percent compared to last year to $668.43 million.
  • Passenger vehicles rose 15.39 percent compared to last year to $310.5 million.

Looking more closely at U.S. imports from Taiwan:

  • Computers rose 32.79 percent compared to last year to $2.85 billion.
  • Computer parts fell 2.1 percent compared to last year to $1.93 billion.
  • Cell phones, related equipment rose 28.04 percent compared to last year to $1.65 billion.
  • Computer chips fell 7.29 percent compared to last year to $1.49 billion.
  • Digital storage devices rose 57.07 percent compared to last year to $1.15 billion.

In the latest annual figures available, Taiwan recorded $85.48 billion in trade with the United States. Total U.S. exports to Taiwan were $ 31.22 billion and imports from Taiwan were $54.26 billion. The U.S. deficit with Taiwan was $23.04 billion.