Imports to Taiwan surged 6.6 percent from a year earlier to USD 25.6 billion in March 2019, buoyed by purchases of machinery (51.8 percent), parts of electronic product (6.4 percent) and petroleum (5.3 percent). Meanwhile, there were decreases in imports of chemicals (-5.5 percent) and base metals (-5.4 percent). Imports rose from China & Hong Kong (16.1 percent), ASEAN (8.4 percent), Japan (11.3 percent), the US (14.1 percent) and Europe (4.5 percent), but fell from the Middle East (-9.4 percent). Imports in Taiwan averaged 11595.08 USD Million from 1981 until 2019, reaching an all time high of 27132.35 USD Million in May of 2011 and a record low of 1203.70 USD Million in February of 1983.
Imports in Taiwan is expected to be 24300.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Imports in Taiwan to stand at 22400.00 in 12 months time. In the long-term, the Taiwan Imports is projected to trend around 19500.00 USD Million in 2020, according to our econometric models.