Taiwan

Taiwan ranked No. 9 in total trade value through August with a total of $58.03 billion. Exports totaled $19.92 billion and Imports totaled $38.11 billion, a deficit of $18.19 billion.

U.S. trade with Taiwan rose to $58.03 billion through August

Taiwan’s trade with the United States rose to $58.03 billion through the first eight months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 3.9 percent above its total trade during the same time period last year. U.S. exports to Taiwan decreased 1.64 percent while U.S. imports from Taiwan rose 7.05 percent. The U.S. deficit with Taiwan was $18.19 billion.

Through August, 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 46.85 percent of Taiwan’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Los Angeles rose 10.17 percent to $10.59 billion.
    Exports rose 7.78 percent to $1.26 billion. Imports rose 10.5 percent to $9.33 billion.
  • Trade with No. 2 San Francisco International Airport, Calif. fell 1.44 percent to $4.75 billion.
    Exports rose 16.03 percent to $2.29 billion. Imports fell 13.55 percent to $2.46 billion.
  • Trade with No. 3 Los Angeles International Airport rose 23.06 percent to $4.34 billion.
    Exports fell 1.02 percent to $1.3 billion. Imports rose 37.32 percent to $3.04 billion.
  • Trade with No. 4 Anchorage International Airport, Alaska rose 20.2 percent to $3.78 billion.
    Exports rose 9.53 percent to $867.67 million. Imports rose 23.79 percent to $2.91 billion.
  • Trade with No. 5 Chicago O’Hare International Airport rose 25.29 percent to $3.73 billion.
    Exports rose 11.43 percent to $809.71 million. Imports rose 29.78 percent to $2.92 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 $2.4 trillion, down 13.21 percent compared to the same period last year. The nation’s exports dropped 16.18 percent to $917.89 billion; imports dropped 11.26 percent to $1.48 trillion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $564.57 billion, down compared to the same period of last year when the deficit was $575.47 billion.

The top five U.S. exports to Taiwan by value through August were the categories of Machinery, parts for semiconductor manufacturing; Computer chips; Oil; Civilian aircraft, parts; and Passenger vehicles, respectively. They accounted for 40.91 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 41.27 percent of all inbound shipments.

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

  • Machinery, parts for semiconductor manufacturing rose 13.71 percent compared to last year to $2.38 billion.
  • Computer chips rose 22.87 percent compared to last year to $2.3 billion.
  • Oil fell 17.33 percent compared to last year to $2.02 billion.
  • Civilian aircraft, parts fell 53.26 percent compared to last year to $879.21 million.
  • Passenger vehicles rose 37.56 percent compared to last year to $569.24 million.

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

  • Computers rose 46.97 percent compared to last year to $5.34 billion.
  • Computer parts rose 5.34 percent compared to last year to $3.19 billion.
  • Cell phones, related equipment rose 27.87 percent compared to last year to $2.84 billion.
  • Computer chips fell 5.73 percent compared to last year to $2.37 billion.
  • Digital storage devices rose 58.99 percent compared to last year to $1.99 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.