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Taiwan-Germany trade surpasses US$20 billion for 3rd consecutive year

Taiwan exported US$8.1 billion worth of goods to Germany in 2023

Germany and Taiwan flags. (Freepik, DanaCS image)

Germany and Taiwan flags. (Freepik, DanaCS image)

TAIPEI (Taiwan News) — Trade between Taiwan and Germany has exceeded US$20 billion (NT$622.67 billion) for three years in a row since 2021, the German Trade Office in Taipei (GTO) announced on Tuesday (Jan. 30).

This signals a stable development trend in trade between the two countries, the office said in a press release. According to Taiwan's Ministry of Finance, the total trade volume between Taiwan and Germany reached US$23 billion in 2022 and US$22 billion in 2023.

In 2023, Taiwan shipped approximately US$8.1 billion worth of information, communication, and audio-visual products, as well as electronics parts to Germany, with machinery and electrical equipment accounting for US$5.2 billion. Meanwhile, Taiwan imported US$13.9 billion worth of goods from Germany, most of which consisted of machinery and electrical equipment. Transport equipment and chemicals accounted for US$3.1 billion and US$2.6 billion, respectively.

GTO Chief Representative and Executive Director Axel Limberg said: "Since the bilateral trade volume between Germany and Taiwan first exceeded US$20 billion in 2021, it has continued to surpass this mark for the third consecutive year, symbolizing the steady and positive development trend in the economic and trade relations between Taiwan and Germany. This also represents that Germany remains Taiwan's most important trading partner in Europe."