Taiwan sold US$474.3 billion worth of exported products around the globe in 2024. That dollar amount reflects a 36.8% gain compared to $346.6 billion five years earlier during 2020.
Year over year, the overall value of Taiwanese exported goods grew by 9.5% from $433 billion in 2023.
Applying a continental lens, under two-thirds (63.7%) of Taiwan’s exports by value was delivered to fellow Asian countries while 25.8% was sold to importers in North America. Taiwan shipped another 8.2% worth of goods to buyers in Europe.
Smaller percentages went to customers in Oceania (1.4%) led by Australia and New Zealand, Latin America (0.6%) excluding Mexico but including the Caribbean, then Africa (0.4%).
Taiwan’s Top Trading Partners
Below is a list showcasing 25 of Taiwan’s top trading partners, countries that imported the most Taiwanese shipments by dollar value during 2024. Also shown is each import country’s percentage of total Taiwanese exports.
- United States: US$111.3 billion (23.5% of Taiwan’s total exports)
- mainland China: $96.8 billion (20.4%)
- Hong Kong: $53.5 billion (11.3%)
- Singapore: $33.7 billion (7.1%)
- Japan: $25.8 billion (5.4%)
- South Korea: $20.8 billion (4.4%)
- Malaysia: $19.9 billion (4.2%)
- Vietnam: $14.3 billion (3%)
- Thailand: $11.8 billion (2.5%)
- Netherlands: $9.7 billion (2%)
- Mexico: $7.89 billion (1.7%)
- India: $7.88 billion (1.7%)
- Germany: $6.9 billion (1.5%)
- Australia: $5.7 billion (1.2%)
- Philippines: $4.2 billion (0.9%)
- United Kingdom: $3.6 billion (0.8%)
- Indonesia: $3.1 billion (0.6%)
- Canada: $2.6 billion (0.5%)
- Italy: $2.3 billion (0.5%)
- Belgium: $2.1 billion (0.4%)
- Czech Republic: $1.77 billion (0.4%)
- France: $1.75 billion (0.4%)
- United Arab Emirates: $1.64 billion (0.3%)
- Poland: $1.63 billion (0.3%)
- Ireland: $1.4 billion (0.3%)
Well over nine-tenths (95.3%) of Taiwanese exports in 2024 was delivered to the above 25 trade partners.
Historically Taiwan’s most valuable exported products to the United States of America are computers and computer parts or accessories. In contrast, Taiwan’s leading export to mainland China are electronic integrated circuits and flat panel displays.
Among Taiwan’s leading customers, the Czech Republic increased its purchases of products exported by Taiwan at the fastest pace from 2023 to 2024 via a 166.7% advance. Other leading increases belong to customers in Mexico (up 65.9%), Ireland (up 61.5%), United States of America (up 45.4%), then India (up 31.1%).
The severest year-over-year decliners were buyers in the Netherlands (down -25.2% from 2023), Belgium (down -19.1%), Japan (down -17.9%), Philippines (down -16.1%) and Germany (down -15.4%).
Countries Causing Biggest Trade Deficits for Taiwan
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
Taiwan incurred the highest trade deficits with the following countries.
- South Korea: -US$22.9 billion (country-specific trade deficit in 2024)
- Japan: -$20.6 billion
- Australia: -$8.9 billion
- Saudi Arabia: -$7.5 billion
- Germany: -$6.6 billion
- Indonesia: -$4.6 billion
- Qatar: -$4.2 billion
- Russia: -$4 billion
- Kuwait: -$3.2 billion
- France: -$3.1 billion
Among Taiwan’s trading partners that cause the greatest negative trade balances, Taiwanese deficits with South Korea (up 122.7%), Japan (up 59.9%) and France (up 23.7%) grew at the fastest pace from 2023 to 2024.
These cashflow deficiencies clearly indicate Taiwan’s competitive disadvantages with the above countries, but also represent key opportunities for Taiwan to develop country-specific strategies to strengthen its overall position in international trade.
Countries Generating Greatest Trade Surpluses for Taiwan
Taiwan earned a total US$80.5 billion trade surplus from all products bought and sold on international markets during 2024, expanding by 8.4% from the $74.3 billion in black ink one year earlier for 2023.
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
Taiwan incurred the highest trade surpluses with the following countries.
- United States: US$64.6 billion (country-specific trade surplus in 2024)
- Hong Kong: $52.2 billion
- Singapore: $24 billion
- mainland China: $17.6 billion
- Vietnam: $6.3 billion
- Thailand: $5.6 billion
- Malaysia: $5.3 billion
- India: $5.2 billion
- Mexico: $4.9 billion
- Netherlands: $4.6 billion
Among Taiwan’s trading partners that generate the greatest positive trade balances, Taiwanese surpluses with the United States of America (up 81.6%), Mexico (up 57.4%) and India (up 35.9%) grew at the fastest pace from 2023 to 2024.
These positive cashflow streams clearly indicate Taiwan’s competitive advantages with the above countries but also represent key opportunities for Taiwan to develop country-specific strategies to optimize its overall position in international trade.
Major Companies Servicing Taiwanese Trading Partners
Forty-seven corporations rank among Forbes Global 2000. Below is a sample of the major Taiwanese companies that Forbes included.
- Advanced Semiconductor (semiconductors)
- Asustek Computer (computer hardware)
- Cheng Shin Rubber Industry Co. (automotive parts)
- China Steel (iron, steel)
- Delta Electronics (electronics)
- Formosa Chemicals (specialized chemicals)
- Formosa Petrochemical (oil, gas)
- Formosa Plastics (specialized chemicals)
- Hon Hai Precision (electronics)
- Mediatek (semiconductors)
- Nan Ya Plastics (diversified chemicals)
- Pegatron (electronics)
- Quanta Computer (computer hardware)
- Taiwan Semiconductor (semiconductors)
- Uni-President (food processing)
According to IMPORTERS.com listings for Taiwanese suppliers, the following are companies that ship products from Taiwan to its trading partners around the globe. Shown within parenthesis are examples of products that the Taiwanese business provides.
- Ever Honor Industries, Inc (food coloring, additives)
- Fuho Technology Co Ltd (vehicle video recorders)
- Hoya International Co, Ltd (industrial tools)
- Intertrust Corporation (aerosol can goods )
- J&A Information Inc (computer memory products)
- Li Jun Enterprise Co, Ltd (marine diesel engines, parts)
- Lian Jeng Co (milling machines)
- Paichang Corporation (electronics, e-cigarettes)
- Stars Navigation Technologies Ltd (GPS, tracking equipment)
- Weld Want Group Co, Ltd (super glue, adhesives)
See also Taiwan’s Top 10 Major Export Companies, Taiwan’s Top 10 Imports, Taiwan’s Top 10 Exports and China’s Top 10 Imports
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles, Central Intelligence Agency. Accessed on March 26, 2025
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on March 26, 2025
IMPORTERS.com The Online Market for G20 Importers, Taiwan Import Export Directory. Accessed on March 26, 2025
International Trade Centre, Trade Map. Accessed on March 26, 2025
Investopedia, Net Exports Definition. Accessed on March 26, 2025
Wikipedia, List of Companies of Taiwan. Accessed on March 26, 2025
Zepol’s company summary highlights by country. Accessed on March 26, 2025