Imports to Taiwan grew 2.2 percent year-on-year to USD 23.9 billion in December 2018, against market consensus of a 1.54 percent fall. Higher purchases of parts of electronic products (17.1%) and mineral products (5.9%) were partly offset by decreases in those of petroleum (-1.5%); machinery (-4.2%); chemicals (-10.7%) and base metals & articles of base metal (-2.5%). Imports grew mostly from the US (14%), Vietnam (40.7%), Malaysia (45.4%) and China (1.9%). Imports in Taiwan averaged 11524.22 USD Million from 1981 until 2018, 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 23600.00 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.