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Taiwan ranks as 11th largest trading partner of U.S.

2018/02/07 11:57:50

Washington, Feb. 6 (CNA) Taiwan was the 11th largest trading partner of the United States in 2017, down one notch from a year earlier, according to the Census Bureau of the U.S. Department of Commerce.

Despite Taiwan's fall in the rankings in 2017, its bilateral trade with the U.S. rose 4.5 percent last year to US$65.4 billion, Census Bureau data showed.

Taiwan's exports to the U.S. totaled US$42.5 billion and imports from the U.S. reached US$25.8 billion, giving Taiwan a trade surplus of US$16.7 billion, according to the data.

Taiwan's trade surplus with the U.S. in 2017 was its highest since 1987 and the 13th largest among all countries, the Census Bureau said.

The data showed Taiwan was the 14th largest buyer of U.S. goods worldwide and the sixth largest buyer of American products in the Asia-Pacific region.

It was the 13th largest exporter to the U.S. worldwide and the 6th largest exporter in the Asia-Pacific region, the data showed.

According to the Census Bureau, Vietnam was the 12th largest exporter to the U.S., surpassing Taiwan in supplying goods and services to the U.S. market for the second straight year.

China remained the U.S.'s largest trading partner, with bilateral trade for 2017 hitting US$636 billion, but the U.S.'s trade deficit with China also hit a record high of US$375.2 billion, the data showed.

(By Rita Cheng and Frances Huang)
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