TAIPEI (Taiwan News) — The Ministry of Agriculture said that Japan was among the top three export destinations for Taiwan's agricultural products from 2022 to last year.

Taiwan's major agricultural exports to Japan include frozen tuna, feathers and down, moth orchids, and live flowers, per CNA.

The ministry said that frozen tuna has accounted for half of Taiwan's annual agricultural export value to Japan for three consecutive years. Moth orchids and other live flowers contribute about 14% to 18.4% of the annual export value, while feathers and down represent approximately 5.6% to 17.7%.

Taiwan's agricultural exports to Japan reached about NT$19.44 billion (US$648 million dollars) last year, representing 13.2% of total agricultural export value, making it the third-largest market. The US topped exports at around NT$26.4 billion, followed by China at about NT$22.2 billion.

In 2022, Taiwan's agricultural exports to Japan were valued at approximately NT$25.5 billion, accounting for 16.3% of the total agricultural export value. In 2023, the value decreased to NT$21.3 billion, representing 14.7% of the total export value. In both years, exports to Japan ranked second, behind the US.

The ministry attributed the decline to global inflation, rising interest rates, and the depreciation of the Japanese yen. Higher global grain prices also affected consumer purchasing power in the Japanese market.

Last year, Taiwan's imports from Japan totaled NT$33.9 billion. Chilled beef was one of Taiwan's top agricultural imports from Japan over the past three years, accounting for 9.4% to 13.1% of the nation's total beef imports.

Chilled apples ranked ninth among Taiwan's agricultural imports last year. Japan accounted for 23.9% of total apple imports, followed by the US and New Zealand.

Taiwan has a trade deficit in agricultural products with Japan, the US, and China, the ministry said. Taiwan relies heavily on imports of raw agricultural materials, such as corn, soybeans, and wheat.

The ministry added that international agricultural prices have risen significantly, further increasing the value of agricultural imports.