An East Asian island surrounded by the People’s Republic of China, Japan and the Philippines, Taiwan imported US$382.5 billion worth of goods from suppliers located around the globe in 2021.

That dollar amount reflects a 48.5% increase since 2017 and a 33.2% upturn from 2020 to 2021.

Based on the average exchange rate for 2021, our estimates show that the new Taiwan dollar appreciated by 6.9% against the US dollar since 2017 and increased by around 4.4% from 2020 to 2021. Taiwan’s stronger local currency makes Taiwan’s imports relatively more expensive when paid for starting with weaker US dollars.

Main Countries Importing Products from Taiwan

The latest available country-specific data shows that 79.1% of products imported from Taiwan were supplied by exporters in: mainland China (21.6% of Taiwan’s global total), Japan (14.7%), United States of America (10.4%), South Korea (8%), Taiwan (4.1%), Australia (3.9%), Germany (3.3%), Singapore (3.2%), Malaysia (3.1%), Netherlands (2.7%), Indonesia (2.1%) and Saudi Arabia (also 2.1%).

Applying a continental lens, over two-thirds (69%) of Taiwan’s total imports by value in 2021 were purchased from fellow Asian countries. Trade partners in Europe satisfied 12.4% of import purchases by Taiwan while 11.5% worth of products originated from North America.

Smaller percentages came from Oceania (3.5%) led by Australia and New Zealand, Latin America (1.8%) excluding Mexico but including the Caribbean, and Africa (1%).

Given Taiwan’s population of 23.4 million people, its total $287.4 billion in 2021 imports translates to roughly $16,400 in yearly product demand from every person in the East Asia island province of China. That dollar metric exceeds the average $12,200 per capita for 2020.

Taiwan’s Top 10 Imports

The following product groups represent the highest dollar value in Taiwan’s import purchases during 2021. Also shown is the percentage share each product category represents in terms of overall imports into Taiwan.

1. Electrical machinery, equipment: US$120.7 billion (31.5% of total imports)
2. Machinery including computers: $57.9 billion (15.1%)
3. Mineral fuels including oil: $49.8 billion (13%)
4. Optical, technical, medical apparatus: $16.9 billion (4.4%)
5. Iron, steel: $12.8 billion (3.3%)
6. Vehicles: $10.6 billion (2.8%)
7. Organic chemicals: $10.6 billion (2.8%)
8. Plastics, plastic articles: $9.5 billion (2.5%)
9. Other chemical goods: $7.3 billion (1.9%)
10. Copper: $7.1 billion (1.9%)

Taiwan’s top 10 imports accounted for almost four-fifths (79.2%) of the overall value of its product purchases from other countries.

Fastest growers among these top import categories from 2020 to 2021 was iron and steel (up 78.1%), mineral fuels including oil (up 67.5%), organic chemicals (up 48.1%) then copper (up 45.5%).

The smallest gain for Taiwan’s top import products was 10% compared to 2020 for imported vehicles.

Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Information presented under other virtual folder tabs is at the more granular 4-digit level.

Main Electrical Products Imported by Taiwan

Taiwanese importers spent the most on the following 10 subcategories of electrical equipment including consumer electronics.

1. Integrated circuits/microassemblies: US$81.6 billion (up 30.5% from 2020)
2. Phone devices including smartphones: $7.4 billion (up 15.8%)
3. Solar power diodes/semi-conductors: $3.6 billion (up 31.4%)
4. Printed circuits: $3.6 billion (up 35.2%)
5. Electrical converters/power units: $2.8 billion (up 27%)
6. Unrecorded sound media: $2.7 billion (up 8.7%)
7. Lower-voltage switches, fuses: $2.4 billion (up 33.2%)
8. Electrical capacitators: $2.3 billion (up 45.4%)
9. TV/radio/radar device parts: $1.6 billion (up 38.4%)
10. Insulated wire/cable: $1.5 billion (up 44.6%)

Among these import subcategories, Taiwanese purchases of electrical capacitators (up 45.4%), insulated wire or cable (up 44.6%) then television, radio and radar device parts (up 38.4%) grew at the fastest pace from 2020 to 2021.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported electronics among Taiwanese businesses and consumers.

Main Machinery Products Including Computers Imported by Taiwan

Taiwanese importers spent the most on the following 10 subcategories of machines including computers.

1. Machinery for making semi-conductors: US$25.5 billion (up 40.1% from 2020)
2. Computer parts, accessories: $7.5 billion (up 43%)
3. Computers, optical readers: $5.3 billion (up 31.7%)
4. Turbo-jets: $2.4 billion (up 27.6%)
5. Centrifuges, filters and purifiers: $1.5 billion (up 21.7%)
6. Miscellaneous machinery: $1.5 billion (up 26.4%)
7. Air or vacuum pumps: $1.4 billion (up 34%)
8. Taps, valves, similar appliances: $1.3 billion (up 26.6%)
9. Assembly machinery for lights, lamps: $1.2 billion (up 164.5%)
10. Air conditioners: $611.7 million (up 15.7%)

Among these import subcategories, Taiwanese purchases of assembly machinery for lights and lamps (up 164.5%), computer parts or accessories (up 43%) then machinery for making semi-conductors (up 40.1%) grew at the fastest pace from 2020 to 2021.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among Taiwanese businesses and consumers.

Main Mineral Fuels Related Products Imported by Taiwan

Taiwanese importers spent the most on the following 10 subcategories of mineral fuels-related products.

1. Crude oil: US$19.9 billion (up 57.5% from 2020)
2. Petroleum gases: $11.4 billion (up 87.6%)
3. Processed petroleum oils: $9.6 billion (up 71.4%)
4. Coal, solid fuels made from coal: $8.2 billion (up 65.7%)
5. Coal tar oils (high temperature distillation): $506.5 million (up 56%)
6. Coke, semi-coke: $78.3 million (up 23.8%)
7. Petroleum oil residues: $71.3 million (up 48.2%)
8. Petroleum jelly, mineral waxes: $42.4 million (up 21.4%)
9. Peat: $3 million (up 65.5%)
10. Tar pitch, coke: $2.8 million (up 77%)

Among these import subcategories, Taiwanese purchases of petroleum gases (up 87.6%), tar pitch and coke (up 77%) then processed petroleum oils (up 71.4%) grew at the fastest pace from 2020 to 2021.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported fossil fuels-related products among Taiwanese businesses and consumers.

Main Medical or Technical Products Imported by Taiwan

Taiwanese importers spent the most on the following 10 subcategories of optical, technical and medical equipment.

1. Oscilloscopes, spectrum analyzers: US$4.9 billion (up 14.5% from 2020)
2. Other measuring/testing machines: $4.2 billion (up 46.9%)
3. Liquid crystal/laser/optical tools: $1.3 billion (up 20.1%)
4. Electro-medical equipment (e.g. xrays): $1.1 billion (down -5.1%)
5. Optical fiber cables, sheets, plates: $988.1 million (up 1.6%)
6. Physical/chemical analysis tools: $935.3 million (up 16.4%)
7. Lenses, prisms, mirrors: $562 million (up 30.2%)
8. X-ray equipment: $482.7 million (up 53.4%)
9. Orthopedic appliances: $399.7 million (up 3.1%)
10. Regulate/control instruments: $387.3 million (up 7.6%)

Among these import subcategories, Taiwanese purchases of x-ray equipment (up 53.4%), other measuring and testing machines (up 46.9%) then lenses, prisms and mirrors (up 30.2%) grew at the fastest pace from 2020 to 2021.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported optical, technical and medical equipment among Taiwanese businesses and consumers.