Taiwan Imports hold the 16th position in the world. As the 17th largest economy of the world, Taiwan imports certain items from different countries across the world, to meet the people's necessity of things that are not commonly found on the land.
As part of globally one of the fastest growing economies, Taiwan Imports offer considerable support to the high-tech industries of the island for the past two decades. Goods imported from abroad are clubbed with the products manufactured in the country to offer them best quality. It is these superior products that are exported to foreign lands after completion of the manufacturing process.
A comparatively small local market and lack of natural resources in Taiwan has made the country depend heavily on Taiwan Imports, which is responsible for over 80 percent of the national GNP. Owing to the dearth of natural resources, the industrial and manufacturing sectors in Taiwan depends heavily on the import industries.
In 2002, Taiwan Imports incurred a total value of 112.5 billion US dollars, which was approximately 4.94 percent more than the preceding year. The major items imported by the nation in this financial year were automatic equipments, mineral fuels, meticulous appliances and electrical apparatus. Japan forms the leading source of Taiwan Imports, accounting for 24.2 percent or 27.3 billion US dollars of the total national imports. Several manufacturing units in Taiwan bank heavily on the best quality mechanized technologies and parts imported from Japan on almost continuous basis. The latest situation is that Taiwan Imports from Japan have increased as many times larger than they were 20 years ago. The import figure had risen remarkably from 3.0 billion US dollars in the 1980s to 27.3 billion US dollars in 2002, leading to a severe commercial deficiency in the country.
United States of America forms the second largest source of Taiwan Imports, accounting for 16.1 percent 18.1 billion US dollars of the total national imports in 2002. Other countries across the globe are responsible for 14.7 percent of Taiwan Imports in 2002, while the European contribution in this respect is 13.0 percent. This overall picture reflects the importance and heavy dependence of the nation on Taiwan Imports, without which it fails to survive financially and economically.
