Taiwan remains 10th largest trading partner of America
Taiwan remained the 10th largest trading partner of the United States in the first half of 2015, according to statistics released by the U.S. Department of Commerce on Monday.
Two-way trade in goods between Taiwan and the U.S. in the first half of the year totaled US$33.57 billion, up 0.5 percent from a year earlier.
Taiwan’s exports to the U.S. market grew 2.9 percent year-onyear to US$20.71 billion during the period, while Taiwan’s imports from the U.S. totaled US$12.87 billion, down 3.1 percent from a year earlier.
That gave Taiwan a trade surplus of US$7.84 billion with Washington, up 14.6 percent from a year earlier, the Department of Commerce said.
Taiwan was the United States’ 14th largest export market and 11th biggest source of imports, and it retained its position held in 2014 as America’s 10th largest trading partner, the data showed.
Canada was the U.S.’s biggest merchandise trading partner, with bilateral trade of US$294.2 billion.
It was followed by China ( US$ 282.6 billion), Mexico (US$262.5 billion), Japan ( US$99 billion), Germany (US$85.3 billion), South Korea (US$59.1 billion), the United Kingdom (US$57.8 billion), France ( US$38.5 billion), and India (US$34.1 billion), the statistics showed.
In the six months, the U.S. exported US$55.9 billion worth of goods to China, against imports of US$226.7 billion, the data showed.
U.S. exports to China were only 4.35 times greater than its exports to Taiwan despite China having a population 58 times as big as Taiwan’s.
The ratio was down from 2014, when China’s exports to the U.S. were 4.63 times higher than Taiwan’s, which some analysts said indicated Taiwan’s growing economic clout that the U.S. cannot afford to ignore.
The analysts said the U.S. government has paid considerable attention to Taiwan’s economic power because many Taiwanese investors operating in China have been active in the bilateral trade between the United States and China.