Taiwan Exporter Guide Annual 2009
Taiwan is a trade-oriented economy and it is affected by fluctuations in the world market. Currently, GDP growth is forecast to be -2.97% in 2009 due to the lingering slowdown in the global economy. As a result of recent changes, relationships with mainland China have been improving and increased trade is expected to continue, which should bring more positive economic prospects in the future. Taiwan is an excellent platform for U.S. companies considering the greater China market. It is the sixth largest market for U.S. agricultural product exports. In 2008 Taiwan imported nearly US$4.0 billion of agricultural products from the United States. The United States had a 36.8% share of imports, followed by Australia, China, Malaysia and Thailand. Although the majority of U.S. agricultural exports to Taiwan are bulk commodities, U.S. exports of many consumer-oriented agricultural products, the majority of those being red meats, fresh fruit, poultry, and processed fruits and vegetables are growing at a steady rate.