Total Value Of U.S. Agricultural And Related Products Exported To Taiwan Reached A Record $4.4 Billion In 2022February 10, 2023
In 2022, the total value of U.S. agricultural and related products exported to Taiwan reached a record $4.4 billion, an increase of 13 percent compared to the previous year. Taiwan successfully remains the 6th largest market for U.S. agricultural & related exports.
The record year surpassed the previous record set in 2018 of $4.1 billion. Products in the Consumer Oriented category continue to play an increasingly important role, with beef, poultry, and dairy products hitting new highs. Top 5 U.S. export categories to Taiwan in 2022 included soybeans ($1.1 billion), beef ($746 million), wheat ($379 million), poultry ($287 million), and corn ($268 million).
The United States is set to retain its position as the largest exporter of consumer-oriented products to Taiwan in 2022, with trade value expected to be more than twice that of the next highest exporter, New Zealand. However, favorable tariff treatment resulting from the FTA between New Zealand and Taiwan (under the Separate Customs Territory of Taiwan, Penghu, Kinmen, and Matsu or TPKM) signed in 2013 gives New Zealand a distinct advantage in many consumer-oriented products (fresh fruits and dairy products in particular) which are otherwise usually subject to high tariff rates.
From Fresh Plaza