Taipeieco.it - The Economic Division of Taipei Representative Office in Italy
Trade with Taiwan
GENERAL INTRODUCTION OF THE COUNTRY
Taiwan is an island located approximately 160 kilometres off the southern coast of China in the Western Pacific Ocean. The total land area is about 36.000 square km and the total population is more than 23 million
people, making it one of the most densely populated area in the world. The geographical position in Asia is the following: in the North there are Japan and Korea, in the West there are Mainland China and Hong Kong, in South West there are the ASEAN countries (Malaysia, Vietnam, Philippines, Brunei, Thailand, Indonesia, Singapore).
Politics
The official name of Taiwan is Republic of China, founded in 1912, was the first democratic republic in Asia. Taiwan is a fully democratic country where people’s rights are respected. There are two main political parties. The Democratic Progressive Party (DPP), the Kuomintang (KMT). The president Ms. Tsai Ing-Wen (DPP),
took office on 20 May 2016.
Living Environment
Through more than 60 years of continuous development, Taiwan has gained the status of a newly industrialising country, and abounds in modern goods and conveniences. Numerous high profile foreign companies have made successful inroads into the Taiwanese market in recent years. In particular, Italian design is highly appreciated by Taiwanese people. In the department stores many fashion and textile products, jewellery, shoes, furniture, etc. are made
in Italy.
Trade
mil. US$ |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
growth rate |
| exports | 280,317 | 317,244 | 335,927 | 329,330 | 345.286 | 446.392 | 479,451 | 432,441 | -9.8% |
| imports | 230,564 | 259,261 | 286,361 | 285,869 | 286.513 | 381.521 | 428,036 | 351,470 | -17.9% |
| total | 510,881 | 576,506 | 622,288 | 615,199 | 631.800 | 827.914 | 907,486 | 783,912 | -13.6% |
balance |
49,754 | 57,983 | 49,566 | 43,461 | 58.773 | 64.871 | 51,415 | 80,971 | 57.78% |
Taiwan Main Trading partners
2023
(US$ mln)
| CODE NO | COUNTRY NAME | TOTAL TRADE | EXPORT | IMPORT | ||||||
| RANKING | AMOUNT | SHARE(%) | RANKING | AMOUNT | SHARE(%) | RANKING | AMOUNT | SHARE(%) | ||
| TOTAL | Global-Country | --- | 783,911.85 | 100.000 | --- | 432,441.35 | 100.000 | --- | 351,470.50 | 100.000 |
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| CODE NO | COUNTRY NAME | RANKING | AMOUNT | SHARE | RANKING | AMOUNT | SHARE | RANKING | AMOUNT | SHARE |
| CN | China | 1 | 165,966.79 | 21.172 | 1 | 95,733.56 | 22.138 | 1 | 70,233.23 | 19.983 |
| US | United States | 2 | 116,854.02 | 14.907 | 2 | 76,234.54 | 17.629 | 3 | 40,619.47 | 11.557 |
| JP | Japan | 3 | 75,769.51 | 9.666 | 4 | 31,436.67 | 7.270 | 2 | 44,332.84 | 12.614 |
| HK | Hong Kong | 4 | 58,000.26 | 7.399 | 3 | 56,515.46 | 13.069 | 30 | 1,484.79 | 0.422 |
| KR | Republic of Korea | 5 | 46,624.01 | 5.948 | 6 | 18,205.25 | 4.210 | 4 | 28,418.77 | 8.086 |
| SG | Singapore | 6 | 39,262.66 | 5.009 | 5 | 29,738.20 | 6.877 | 9 | 9,524.47 | 2.710 |
| MY | Malaysia | 7 | 24,851.66 | 3.170 | 7 | 15,166.07 | 3.507 | 8 | 9,685.59 | 2.756 |
| AU | Australia | 8 | 23,301.08 | 2.972 | 13 | 5,796.81 | 1.340 | 5 | 17,504.27 | 4.980 |
| DE | Germany | 9 | 22,032.91 | 2.811 | 11 | 8,139.48 | 1.882 | 7 | 13,893.43 | 3.953 |
| NL | Netherlands | 10 | 20,383.60 | 2.600 | 8 | 12,927.01 | 2.989 | 11 | 7,456.59 | 2.122 |
| IT | Italy | 21 | 5,790.34 | 0.739 | 20 | 2,414.23 | 0.558 | 20 | 3,376.11 | 0.961 |
TWO WAY TRADE WITH ITALY
In 2023 the total exchanges between Taiwan and Italy have
reached US$ 5.79 billion (growth rate
-7%).
Taiwan exports to Italy were US$ 2.4 billion (-16.6%) and imports from Italy counted US$ 3.38 billion (+0.7%). Italy is Taiwan's 5th trade partner in EU after Germany, Holland, UK and France and 21st partner in the world.
Taiwan Import from Italy, top 10 products.
(million US$)
| TIME PERIOD: 2023/01 - 2023/12 | |||||||
| CCC_CODE | CODE_NAME | 2022/01 - 2022/12 | 2023/01 - 2023/12 | RANKING | SHARE(%) | GROWTH RATE(%) | CHANGE AMOUNT |
| TOTAL |
Italy (CCC_CODE： ALL) |
3,351.27 | 3,376.11 | --- | 100 | 0.741 | 24.84 |
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| 85 | Chapter 85 electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles | 520.58 | 421.52 | 1 | 12.485 | -19.028 | -99.05 |
| 84 | Chapter 84 nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 367.10 | 419.87 | 2 | 12.436 | 14.374 | 52.77 |
| 42 | Chapter 42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silk-worm gut) | 338.77 | 379.59 | 3 | 11.244 | 12.049 | 40.82 |
| 30 | Chapter 30 pharmaceutical products | 295.29 | 359.06 | 4 | 10.635 | 21.595 | 63.77 |
| 90 | Chapter 90 optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof | 308.39 | 232.91 | 5 | 6.899 | -24.476 | -75.48 |
| 87 | Chapter 87 vehicles other than railway or tramway rolling-stock, and parts and accessories thereof | 159.93 | 209.96 | 6 | 6.219 | 31.277 | 50.02 |
| 64 | Chapter 64 footwear, gaiters and the like; parts of such articles | 105.51 | 135.01 | 7 | 3.999 | 27.965 | 29.51 |
| 62 | CHAPTER 62 ARTICLES OF APPAREL AND CLOTHING ACCESSORIES, NOT KNITTED OR CROCHETED | 114.08 | 134.20 | 8 | 3.975 | 17.637 | 20.12 |
| 71 | Chapter 71 natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metals, and articles thereof; imitation jewellery; coin | 98.71 | 122.56 | 9 | 3.630 | 24.166 | 23.85 |
| 61 | CHAPTER 61 ARTICLES OF APPAREL AND CLOTHING ACCESSORIES, KNITTED OR CROCHETED | 87.45 | 103.64 | 10 | 3.070 | 18.511 | 16.19 |
Taiwan Export to Italy, top 10 products
(million US$)
| TIME PERIOD: 2023/01 - 2023/12 | |||||||
| CCC_CODE | CODE_NAME | 2022/01 - 2022/12 | 2023/01 - 2023/12 | RANKING | SHARE(%) | GROWTH RATE(%) | CHANGE AMOUNT |
| TOTAL |
Italy (CCC_CODE： ALL) |
2,896.58 | 2,414.23 | --- | 100 | -16.652 | -482.35 |
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| 72 | Chapter 72 iron and steel | 625.44 | 539.27 | 1 | 22.337 | -13.778 | -86.17 |
| 84 | Chapter 84 nuclear reactors, boilers, machinery and mechanical appliances; parts thereof | 489.72 | 473.01 | 2 | 19.593 | -3.412 | -16.71 |
| 85 | Chapter 85 electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles | 417.89 | 378.14 | 3 | 15.663 | -9.513 | -39.75 |
| 87 | Chapter 87 vehicles other than railway or tramway rolling-stock, and parts and accessories thereof | 471.87 | 303.27 | 4 | 12.562 | -35.730 | -168.60 |
| 73 | Chapter 73 articles of iron or steel | 160.55 | 111.21 | 5 | 4.607 | -30.732 | -49.34 |
| 39 | Chapter 39 plastics and articles thereof | 131.45 | 103.90 | 6 | 4.304 | -20.959 | -27.55 |
| 90 | Chapter 90 optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof | 86.24 | 77.61 | 7 | 3.215 | -10.006 | -8.63 |
| 82 | Chapter 82 tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal | 56.40 | 53.84 | 8 | 2.230 | -4.546 | -2.56 |
| 38 | Chapter 38 miscellaneous chemical products | 47.17 | 39.99 | 9 | 1.656 | -15.223 | -7.18 |
| 29 | Chapter 29 organic chemicals | 47.84 | 36.51 | 10 | 1.512 | -23.696 | -11.34 |
Economic Cooperation Forum between Taiwan and Italy
Since 2011 an annual bilateral meeting is held alternatevly in Taiwan and Italy for the promotion of economic cooperation. Last business cooperation meeting was held in Milan, in November 2023 with Cieca and Confindustria.
TRADE PROMOTION SERVICES
www.taiwantrade.com.tw, Taiwan business database, Taiwan national B2B e-portal
https://www.taitra.org.tw/en/Default.aspx, Taiwan External Trade Development Council (TAITRA)
https://www.trade.gov.tw/English/, Bureau of Foreign Trade
https://www.taiwantradeshows.com.tw/en_US/index.html, Taiwan Trade Shows Calendar
Taiwan excellent spirits and wine producers
LINKS
Customs Laws and Regulations, https://web.customs.gov.tw/en/
Travelers, https://web.customs.gov.tw/etaipei/multiplehtml/3396
Exporter/importer registration System, https://fbfh.trade.gov.tw/fb/web/homef.do#tabsE
Quarantine regulation, https://www.aphia.gov.tw/en/ws.php?id=14258
International trade shows, https://www.taiwantradeshows.com.tw/
Ufficio di Rappresentanza di Taipei - Viale Liegi n.17, 00198 Roma | Tel. 06-98262800 - P. Iva 97076980586