That dollar amount results from a 37.1% advance compared to $287.2 billion during 2020, and a 9.8% year-over-year acceleration from $358.7 billion in 2023.
Based on the average exchange rate for 2024 on a Purchasing Power Parity basis, the New Taiwan Dollar depreciated by -2.8% from 2023 to 2024 versus the US dollar. Taiwan’s weaker local currency makes Taiwanese imports paid for in stronger American currency relatively more expensive for Taiwanese buyers starting from the New Taiwan Dollar.
Main Countries Importing Products from Taiwan
The latest available country-specific data shows that 75.8% of products imported from Taiwan were supplied by exporters in: mainland China (20.1% of the Taiwanese total), United States of America (11.9%), Japan (11.8%), South Korea (11.1%), Malaysia (3.71%), Australia (3.7%), Germany (3.4%), Singapore (2.5%), Saudi Arabia (2.1%), Vietnam (1.96%), Indonesia (2.01%) and Thailand (1.6%).
Applying a continental lens, more than two-thirds (68.9%) of Taiwan’s total imports by value in 2024 was purchased from fellow Asian countries. Trade partners in North America fulfilled 13.1% of import purchases by Taiwan, while another 11.7% worth of products originated from Europe.
Smaller percentages came from providers in Oceania (4.2%) led by Australia and New Zealand, Latin America (1.6%) excluding Mexico but including the Caribbean, and Africa (0.5%).
Given Taiwan’s population of 23.3 million people, its total $393.8 billion in 2024 imports translates to roughly $16,900 in yearly product demand from every person in the East Asia island province of China. That dollar metric exceeds the average $15,200 per capita for 2023.
Taiwan’s Top 10 Imports
The following product groups represent the highest dollar value in Taiwan’s import purchases during 2024. Also shown is the percentage share each product category represents in terms of overall imports into Taiwan.
- Electrical machinery, equipment: US$133.1 billion (33.8% of total imports)
- Machinery including computers: $55.7 billion (14.2%)
- Mineral fuels including oil: $53.4 billion (13.6%)
- Optical, technical, medical apparatus: $16.5 billion (4.2%)
- Vehicles: $11.6 billion (2.9%)
- Iron, steel: $9.5 billion (2.4%)
- Plastics, plastic articles: $8 billion (2%)
- Organic chemicals: $7.9 billion (2%)
- Copper: $7.5 billion (1.9%)
- Other chemical goods: $6.4 billion (1.6%)
Taiwan’s top 10 import product categories generated nearly four-fifths (78.6%) of the overall value of Taiwanese product purchases from other countries.
The greatest gainers among Taiwan’s top import categories from 2023 to 2024 were the copper product category via a 37.5% upturn ahead of electrical machinery and equipment (up 23.8%) then plastics both as materials and items made from plastic (up 9.4%).
The severest decliner among Taiwan’s top imported product groups was the mineral fuels including oil grouping, recording a -6.1% reduction year over year.
Please note that the product category results listed above are at the 2-digit Harmonized Tariff System code level.
Information presented in the following sections is also 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.
- Integrated circuits/microassemblies: US$94.2 billion (up 28.5% from 2023)
- Phone devices including smartphones: $7.9 billion (up 9.5%)
- Printed circuits: $4.8 billion (up 33.5%)
- Electrical converters/power units: $2.9 billion (up 4.3%)
- Solar power diodes/semi-conductors: $2.8 billion (up 0.1%)
- Unrecorded sound media: $2.5 billion (up 26.9%)
- Lower-voltage switches, fuses: $2.4 billion (up 26.2%)
- Electrical capacitators: $2.1 billion (up 29.7%)
- Insulated wire/cable: $1.6 billion (up 17.8%)
- Electric storage batteries: $1.6 billion (up 3.5%)
Among these import subcategories, Taiwanese purchases of printed circuits (up 33.5%), electrical capacitators (up 29.7%), then electronic integrated circuits and microassemblies (up 28.5%) grew at the fastest pace from 2023 to 2024.
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.
- Machinery for making semi-conductors: US$17.5 billion (down -30.2% from 2023)
- Computers, optical readers: $12.9 billion (up 87.1%)
- Computer parts, accessories: $6.5 billion (up 33.5%)
- Turbo-jets: $3.2 billion (down -9%)
- Centrifuges, filters and purifiers: $1.5 billion (up 8.5%)
- Taps, valves, similar appliances: $1.43 billion (up 8.8%)
- Miscellaneous machinery: $1.4 billion (up 0.1%)
- Air or vacuum pumps: $1.34 billion (up 9.4%)
- Temperature-change machines: $649.7 million (up 19.5%)
- Air conditioners: $649.3 million (up 7.6%)
Among these import subcategories, Taiwanese purchases of computers or optical readers (up 87.1%), computer parts or accessories (up 33.5%), then temperature-change machines (up 19.5%) grew at the fastest pace from 2023 to 2024.
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.
- Crude oil: US$23.9 billion (down -4.9% from 2023)
- Petroleum gases: $12.6 billion (down -5.7%)
- Coal, solid fuels made from coal: $9.3 billion (down -20.7%)
- Processed petroleum oils: $7.2 billion (up 15.6%)
- Coal tar oils (high temperature distillation): $350.2 million (up 5.7%)
- Coke, semi-coke: $47 million (down -9.8%)
- Petroleum jelly, mineral waxes: $30 million (up 0.4%)
- Petroleum oil residues: $20.5 million (down -57.1%)
- Tar pitch, coke: $2.1 million (up 26%)
- Peat: $1.7 million (up 1.4%)
Among these import subcategories, Taiwanese purchases of tar pitch or coke (up 26%), processed petroleum oils (up 15.6%), then high-temperature distilled coal tar oils (up 5.7%) grew at the fastest pace from 2023 to 2024.
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.
- Oscilloscopes, spectrum analyzers: US$4.7 billion (up 34.6% from 2023)
- Other measuring/testing machines: $3.9 billion (down -22%)
- Electro-medical equip (e.g. xrays): $1.4 billion (up 0.4%)
- Optical fiber cables, sheets, plates: $958.1 million (up 10%)
- Lenses, prisms, mirrors: $926.9 million (up 59.8%)
- Physical/chemical analysis tools: $912.8 million (down -1.3%)
- X-ray equipment: $799.8 million (up 48.6%)
- Liquid crystal/laser/optical tools: $587 million (down -19.3%)
- Orthopedic appliances: $484.3 million (up 1%)
- Liquid/gas checking instruments: $372.1 million (up 2.6%)
Among these import subcategories, Taiwanese purchases of lenses, prisms and mirrors (up 59.8%), x-ray equipment (up 48.6%), then oscilloscopes and spectrum analyzers (up 34.6%) grew at the fastest pace from 2023 to 2024.
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.
See also Taiwan’s Top Trading Partners, Taiwan’s Top 10 Exports and Top Asian Export Countries
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles, Central Intelligence Agency. Accessed on April 23, 2025
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on April 23, 2025
International Trade Centre, Trade Map. Accessed on April 23, 2025
Wikipedia, List of Companies of Taiwan. Accessed on April 23, 2025
X-rates.com, Exchange Rates: New Taiwan Dollar to US Dollar (monthly average 2024). Accessed on April 23, 2025
Zepol’s company summary highlights by country. Accessed on April 23, 2025