Chinese Taipei2019 Economic Complexity : 2.01, Rank 2 of 146
2019 Product Exports | Imports: $351B | $264B, 14 of 225 | 19 of 225
2019 Per Capita Product Exports | Imports: $14.7k | $11.1k, 23 of 219 | 56 of 219
2017 Service Exports | Imports : $54.3B | $48.2B, 27 of 145 | 27 of 145
Overview In 2019 Chinese Taipei was the number 14 in total exports, the number 19 in total imports and the number 2 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Chinese Taipei are Integrated Circuits ($114B), Office Machine Parts ($14.2B), Computers ($8.89B), Refined Petroleum ($8.79B), and LCDs ($6.78B), exporting mostly to China ($90.5B), United States ($49.2B), Hong Kong ($41B), Japan ($23.8B), and Singapore ($22.9B).
In 2019, Chinese Taipei was the world's biggest exporter of Integrated Circuits ($114B), Copper Foil ($2.06B), Hot-Rolled Stainless Steel Bars ($296M), Tapioca ($121M), and Hard Rubber ($48.8M)
Imports The top imports of Chinese Taipei are Integrated Circuits ($42.1B), Crude Petroleum ($24.9B), Photo Lab Equipment ($13.4B), Petroleum Gas ($7.41B), and Refined Petroleum ($6.99B), importing mostly from China ($54.8B), Japan ($41.6B), United States ($30B), South Korea ($16.2B), and Singapore ($10B).
In 2019, Chinese Taipei was the world's biggest importer of Photo Lab Equipment ($13.4B), Disc Chemicals for Electronics ($2.51B), and Halides ($187M)
Top Export (2019): Integrated Circuits, $114B
Top Destination (2019): China, $90.5B
In 2019, Chinese Taipei exported a total of $351B, making it the number 14 exporter in the world. During the last five reported years the exports of Chinese Taipei have changed by $23.2B from $327B in 2014 to $351B in 2019.
The most recent exports are led by Integrated Circuits ($114B), Office Machine Parts ($14.2B), Computers ($8.89B), Refined Petroleum ($8.79B), and LCDs ($6.78B). The most common destination for the exports of Chinese Taipei are China ($90.5B), United States ($49.2B), Hong Kong ($41B), Japan ($23.8B), and Singapore ($22.9B).
Top Import (2019): Integrated Circuits, $42.1B
Top Origin (2019): China, $54.8B
In 2019 Chinese Taipei imported $264B, making it the number 19 trade destination in the world. During the last five reported years the imports of Chinese Taipei changed by -$26.9B from $291B in 2014 to $264B in 2019.
The most recent imports of Chinese Taipei are led by Integrated Circuits ($42.1B), Crude Petroleum ($24.9B), Photo Lab Equipment ($13.4B), Petroleum Gas ($7.41B), and Refined Petroleum ($6.99B). The most common import partners for Chinese Taipei are China ($54.8B), Japan ($41.6B), United States ($30B), South Korea ($16.2B), and Singapore ($10B).
Fastest Growing Export Markets (2018 - 2019)
Fastest Growing Import Markets (2018 - 2019)
Chinese Taipei Exports Services (2017): $54.3B
Chinese Taipei Imports Services (2017): $48.2B
In 2017, Chinese Taipei exported $54.3B worth of services. The top services exported by Chinese Taipei in 2017 were Merchanting and other trade-related services ($14.6B), Personal travel ($11.4B), Miscellaneous business, professional, and technical services ($8.98B), Sea transport ($5.55B), and Air transport ($4.34B).
The top services imported by Chinese Taipei in 2017 were Personal travel ($15.5B), Miscellaneous business, professional, and technical services ($9.63B), Sea transport ($7.73B), Royalties and license fees ($3.76B), and Air transport ($3.56B).
Chinese Taipei has a high level of specialization in Copper Foil (16.8), Wrenches (12.5), Integrated Circuits (9.58), Mirrors and Lenses (8.9), and Glass with Edge Workings (8.81). 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 Photo plate, film, exposed or developed, except cine (2.76), Machining centre, single/multistation transfer machine (2.42), Equipment for photographic laboratories nes (2.25), Chemical element/compound wafers doped for electronics (2.18), and Chemical preparations for photographic use (2.12). 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 (0.32), Halides (0.31), Watch Movements (0.3), Blown Glass (0.3), and Artificial Filament Tow (0.3). 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 22nd to the 2nd 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.