Imports to Taiwan went up 1.1 percent year-on-year to USD 23.16 billion in November 2018, below estimates of 9.7 percent. Higher purchases of mineral products (+27.5 percent), namely petroleum (+55.8 percent), were partly offset by lower imports of machinery & electrical equipment (-2.1 percent); chemicals (-1.6 percent) and base metals & articles of base metal (-4.7 percent). Imports rose from the US (8.1 percent); Korea (9.1 percent) and Vietnam (11.7 percent); while those from China (-4.6 percent); Japan (-27 percent) and Singapore (-19 percent) declined. Imports in Taiwan averaged 11497.03 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 24500.00 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 23300.00 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.