Imports to Taiwan decreased 0.6 percent from a year earlier to USD 24.97 billion in September 2019, driven by a decline in purchases of mineral products (-27.5 percent), such as petroleum (-33.1 percent), and chemicals (-7.8 percent). Still, increases were seen in imports of machinery (36.2 percent), parts of electronic products (12.6 percent) and information, communication & audio-video products (9.7 percent). Imports dropped from the US (-9.6 percent) and the Middle East (-25.9 percent), but increased from China & Hong Kong (9.5 percent), ASEAN (7 percent), Japan (4.1 percent) and Europe (7.3 percent). Imports in Taiwan averaged 11750.32 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 22400.00 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 22900.00 in 12 months time. In the long-term, the Taiwan Imports is projected to trend around 26500.00 USD Million in 2020, according to our econometric models.