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Steel Imports Report: Taiwan
Background
Taiwan is the world’s nineteen-largest steel importer (2017 ranking). In 2018, Taiwan imported 7.6 million metric tons of steel, a 3 percent increase from 7.4 million metric tons in 2017. Taiwan’s imports represented about 2 percent of all steel imported globally in 2016. The volume of Taiwan’s 2018 steel imports was roughly one-fourth the size of the world’s largest importer, the United States. In value terms, steel represented just 2.3 percent of the total goods imported into Taiwan in 2018.
Taiwan imports steel from over 50 countries and territories. The countries highlighted in the map below represent the top import sources for Taiwan’s imports of steel, with each sending more than 100 thousand metric tons to Taiwan and together accounting for 93 percent of Taiwan’s steel imports 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 and hit a low point in 2009. Since 2009, 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 4.6 million metric tons, down less than 2 percent from 4.6 million metric tons in 2017.
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