Chinese Taipei2020 Economic Complexity : 1.97, Rank 3 of 127
2020 Product Exports | Imports: $374B | $259B, 10 of 226 | 20 of 226
2020 Per Capita Product Exports | Imports: $15.7k | $10.9k, 53 of 219 | 53 of 219
2020 Service Exports | Imports : $47.5B | $34.3B, 19 of 65 | 21 of 65
Overview In 2020, Chinese Taipei was the number 0 economy in the world in terms of GDP (current US$), the number 10 in total exports, the number 20 in total imports, the number 0 economy in terms of GDP per capita (current US$) and the number 3 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Chinese Taipei are Integrated Circuits ($138B), Office Machine Parts ($16.1B), Computers ($10.9B), Blank Audio Media ($9.2B), and Broadcasting Equipment ($8B), exporting mostly to China ($104B), United States ($54.8B), Hong Kong ($50B), Singapore ($24.9B), and Japan ($24.3B).
In 2020, Chinese Taipei was the world's biggest exporter of Integrated Circuits ($138B), Mirrors and Lenses ($2.41B), Copper Foil ($2.16B), Hot-Rolled Stainless Steel Bars ($262M), and Tapioca ($74.6M)
Imports The top imports of Chinese Taipei are Integrated Circuits ($48.6B), Crude Petroleum ($15.2B), Photo Lab Equipment ($11.4B), Machinery Having Individual Functions ($6.91B), and Cars ($6.02B), importing mostly from China ($60.7B), Japan ($42.7B), United States ($28.9B), South Korea ($17.4B), and Singapore ($11.1B).
In 2020, Chinese Taipei was the world's biggest importer of Disc Chemicals for Electronics ($2.56B) and Halides ($204M)
The following section uses the most recent trade data from partners of Chinese Taipei.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2020): Integrated Circuits, $138B
Top Destination (2020): China, $60.7B
In 2020, Chinese Taipei exported a total of $374B, making it the number 10 exporter in the world. During the last five reported years the exports of Chinese Taipei have changed by $81.1B from $293B in 2015 to $374B in 2020.
The most recent exports are led by Integrated Circuits ($138B), Office Machine Parts ($16.1B), Computers ($10.9B), Blank Audio Media ($9.2B), and Broadcasting Equipment ($8B). The most common destination for the exports of Chinese Taipei are China ($104B), United States ($54.8B), Hong Kong ($50B), Singapore ($24.9B), and Japan ($24.3B).
Fastest Growing Export Markets (2019 - 2020)
Fastest Growing Import Markets (2019 - 2020)
Chinese Taipei Exports Services (2020): $47.5B
Chinese Taipei Imports Services (2020): $34.3B
In 2020, Chinese Taipei exported $47.5B worth of services. The top services exported by Chinese Taipei in 2020 were Merchanting and other trade-related services ($12.9B), Miscellaneous business, professional, and technical services ($11.8B), Sea transport ($6.47B), Computer and information services ($4.73B), and Air transport ($4.51B).
The top services imported by Chinese Taipei in 2020 were Miscellaneous business, professional, and technical services ($10.5B), Sea transport ($8.1B), Royalties and license fees ($4.14B), Computer and information services ($2.99B), and Personal travel ($2.52B).
Chinese Taipei has a high level of specialization in Copper Foil (14.6), Wrenches (11.5), Integrated Circuits (9.24), Mirrors and Lenses (9.09), and Glass with Edge Workings (7.95). Specialization is measured using RCA, an index that takes the ratio between Chinese Taipei observed and expected exports in each product.
The highest complexity exports of Chinese Taipei according to the product complexity index (PCI) are Metalworking Transfer Machines (2.55), Developed Exposed Photographic Material (2.45), Photo Lab Equipment (2.15), Metalworking Machines (2.09), and Photographic Chemicals (2.08). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Chinese Taipei according to the relatedness index, are Inorganic Compounds (0.31), Halides (0.28), Telephones (0.27), Oxometallic or Peroxometallic Acid Salts (0.26), and Watch Movements (0.26). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Chinese Taipei is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.
During the last 20 years Chinese Taipei's economy has become relatively more complex, moving from the 31st to the 3rd position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
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