Taiwan

Taiwan ranked No. 9 in total trade value through March with a total of $21.69 billion. Exports totaled $8.32 billion and Imports totaled $13.37 billion, a deficit of $5.05 billion.

U.S. trade with Taiwan rose to $21.69 billion through March

Taiwan’s trade with the United States rose to $21.69 billion through the first three months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 7.81 percent above its total trade during the same time period last year. U.S. exports to Taiwan increased 11.57 percent while U.S. imports from Taiwan rose 5.6 percent. The U.S. deficit with Taiwan was $5.05 billion.

Through March, 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 Anchorage International Airport, Alaska; and No. 5 Chicago O’Hare International Airport. 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 Anchorage International Airport, Alaska and No. 5 Port of Long Beach. In the current time period, the top five accounted for 43.57 percent of Taiwan’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Los Angeles rose 9.58 percent to $3.72 billion.
    Exports rose 13.84 percent to $472.55 million. Imports rose 8.99 percent to $3.25 billion.
  • Trade with No. 2 San Francisco International Airport, Calif. fell 0.55 percent to $1.85 billion.
    Exports rose 0.2 percent to $884.21 million. Imports fell 1.22 percent to $965.81 million.
  • Trade with No. 3 Los Angeles International Airport rose 14.71 percent to $1.48 billion.
    Exports fell 9.2 percent to $439.36 million. Imports rose 29.04 percent to $1.04 billion.
  • Trade with No. 4 Anchorage International Airport, Alaska rose 1.61 percent to $1.21 billion.
    Exports rose 21.44 percent to $330.62 million. Imports fell 4.25 percent to $881.99 million.
  • Trade with No. 5 Chicago O’Hare International Airport rose 20.82 percent to $1.19 billion.
    Exports rose 14.09 percent to $329.08 million. Imports rose 23.62 percent to $857.76 million.

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 $964.77 billion, down 4.16 percent compared to the same period last year. The nation’s exports dropped 3.07 percent to $395.69 billion; imports dropped 4.91 percent to $569.09 billion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $173.4 billion, down compared to the same period of last year when the deficit was $190.25 billion.

The top five U.S. exports to Taiwan by value through March were the categories of Machinery, parts for semiconductor manufacturing; Oil; Computer chips; Civilian aircraft, parts; and Passenger vehicles, respectively. They accounted for 44.25 percent of total exports to Taiwan.

The value of the top five categories of U.S. imports from Taiwan –– Computers; Computer parts; Computer chips; Cell phones, related equipment; and Change it to Digital storage devices –– accounted for 38.3 percent of all inbound shipments.

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

  • Machinery, parts for semiconductor manufacturing rose 19.09 percent compared to last year to $1.1 billion.
  • Oil rose 14.87 percent compared to last year to $1.05 billion.
  • Computer chips rose 25.79 percent compared to last year to $777.46 million.
  • Civilian aircraft, parts rose 14.81 percent compared to last year to $520.57 million.
  • Passenger vehicles rose 96.98 percent compared to last year to $233.25 million.

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

  • Computers rose 29.93 percent compared to last year to $1.58 billion.
  • Computer parts fell 13.05 percent compared to last year to $1 billion.
  • Computer chips fell 6.56 percent compared to last year to $960.12 million.
  • Cell phones, related equipment rose 36.89 percent compared to last year to $931.35 million.
  • Change it to Digital storage devices rose 46.2 percent compared to last year to $645.38 million.

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.