Bilateral trade between Vietnam and Taiwan (China) experienced a strong recovery in 2024, with positive growth in both exports and imports, marking a clear rebound after previous years of fluctuations.
Impressive Trade Growth in 2024
Table of Contents
According to data from the Taiwan International Trade Administration (TITA), the total trade turnover between Vietnam and Taiwan in December 2024 reached USD 1.97 billion, an increase of 27.66% year-on-year.
-
Taiwan’s exports to Vietnam: USD 1.24 billion (up 19.59%)
-
Taiwan’s imports from Vietnam: USD 735.97 million (up 44.07%)
For the whole year 2024, the total bilateral trade reached USD 22.19 billion, an increase of 24.08% compared to 2023.
-
Taiwan’s exports to Vietnam totaled USD 14.27 billion, up 21.77%
-
Taiwan’s imports from Vietnam totaled USD 7.91 billion, up 28.47%
Vietnam’s Export Performance to Taiwan
Data from TITA shows remarkable growth in Taiwan’s imports from Vietnam, particularly in high-tech sectors such as:
-
Mobile phones
-
Semiconductors
-
Integrated circuits (ICs)
Throughout 2024, machinery and electrical equipment remained Vietnam’s largest export category to Taiwan, driven by the rapid development of the electronics and high-tech manufacturing industries in both economies.
Taiwan’s Exports to Vietnam
On the other hand, Taiwan’s main export products to Vietnam in December 2024 included:
-
Electronic integrated circuits
-
Optical lenses
-
Synthetic fiber fabrics
-
Printed circuit boards (PCBs)
-
Knitted and crocheted textiles
For the full year, Taiwan’s exports to Vietnam saw solid growth, particularly in industrial goods, electronic components, and plastic products, reflecting the increasing industrial interdependence between the two economies.
Vietnam Remains a Key Trade Partner of Taiwan
According to Taiwan’s trade statistics, Vietnam maintained its position as Taiwan’s 8th largest trading partner,
-
11th largest supplier of goods, and
-
8th largest export market in 2024.
This demonstrates the growing economic and supply chain connectivity between Vietnam and Taiwan, especially in electronics, technology, and supporting industries.