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Steel Exports Report: Taiwan
Background
Taiwan, as of 2017, is the world’s thirteenth-largest steel exporter. In 2018, Taiwan exported 12.2 million metric tons of steel, a one percent increase from 12.0 million metric tons in 2017. Taiwan’s exports represented about 3 percent of all steel exported globally in 2017, based on available data. The volume of Taiwan’s 2018 steel exports was one-sixth that of the world’s largest exporter, China, and nearly one-third that of the second-largest exporter, Japan. In value terms, steel represented just 3.6 percent of the total amount of goods Taiwan exported in 2018.
Taiwan exports steel to more than 130 countries and territories. The ten countries highlighted in the map below represent the top markets for Taiwan’s exports of steel, receiving more than 450 thousand metric tons each and accounting for 67 percent of Taiwan’s steel exports in 2018.
Rising exports and falling imports caused Taiwan’s steel trade deficit to become a steel trade surplus between 2006 and 2007. Imports continued to fall in the wake of the global recession, hitting a low point in 2009. From 2009 to 2018, imports have increased 17 percent but were still down 31 percent from 2005 levels. Exports increased 24 percent between 2009 and 2018. In 2018, Taiwan’s steel trade surplus amounted to 4.55 million metric tons, down 2 percent from 4.63 million metric tons in 2017.
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