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Taiwan is an island located on the east coast of China. During the 20th century, Taiwan has experienced a rapid economic growth and industrialization, which has positioned this small island situated among the selected group of developed economies or first world countries.
It is relevant to note that the economy of Taiwan ranks the highest in Asia for 2015 Global Entrepreneurship Index (GEI) for specific strengths. Most large government-owned banks and industrial firms have been privatized.
This great evolution of Taiwan can be explained studying the liberal initiatives taken by the country during the last decades of the past century when Taiwan evolved into a democracy, unicameral, with universal suffrage. However, the dominant political issues continue to be management of sensitive relations between Taiwan and China - specifically the question of Taiwan’s eventual status - as well as domestic priorities for economic reform and growth.
Taiwan is one of the Four Asian Tigers and a member of the WTO and APEC. Taiwan is currently the 21st-largest economy in the world; its high-tech industry plays a key role in the global economy. Taiwan is ranked highly in terms of freedom of the press, health care, public education, economic freedom, and human development.
The total amount traded between the US and Taiwan amounts to $82 billion in 2012 and $64 billion in 2013.
With respect to 2012, on one hand, the total amount exported from the US to Taiwan was (estimated) $36 billion. On the other hand, the total imported goods amounted $46 billion. Therefore, the US trade deficit with Taiwan (including goods and services) was $11 billion in 2012.
In relation to the total value of the services exported and imported it was totaled an estimated of $19 billion in 2012. Differentiating between exported and imported services:
Therefore, the U.S. services trade surplus with Taiwan was $4 billion in 2012.
From a US perspective, Taiwan was during 2013 the 12th largest US goods trading partner amounting up to $64 billion in total (two ways) goods trade during 2013. Goods exports totaled $26 billion; Goods imports totaled $38 billion. The U.S. goods trade deficit with Taiwan was $12 billion in 2013.
Lastly, the importance of Taiwan international trade is not only related to its relationships with the US. Nevertheless, US trades should be aware of the fact that:
Planning to move from the US to Taiwan or vice versa? We recommend that you quote a Door-to-Door shipment since it is the most comfortable and smart decision.
But if you just want to know the price for a door-to-port shipment to Taiwan from the US, we suggest you use or calculator for Door-to-Port moving overseas. In addition to that, we can also help you and give you valuable information about moving to Taiwan as well as some good tips about organizing your moving.
Please, read carefully all the information regarding the documentation you need to fill up. It needs to be completed when moving overseas from the US.
In this section we would lie to give you some tips to help you optimize your contracting for ocean freight transportation to/from The US from/to Taiwan. Let us describe you the basic options available:
A full container is recommended for those families or exporters whose volume of goods is between 10 and 20 standard pallets (each standard pallet is 1.2m/47 ¼” X 1m/39 3⁄8”). The referred measures are the exact capacities of 20-foot and 40-foot containers respectively.
This offers the greatest savings in transport costs. FCL is also very useful for those who want to segregate their goods from those of other traders or families, by avoiding any short of “contamination” that could affect the integrity of their product.
If the segregation of the goods is not an issue, or in which the volume of goods to be shipped would not be sufficient to take up at least half a container, a shared container (LCL) is clearly the most economical option. “Groupage,” as it is also known, allows you to reduce costs, as you pay only for the space occupied by your goods.
In case of urgency, or when the size of the shipment is not considerably big and/or heavy, we suggest you quote an air freight shipment, but please take always into consideration the limitations on air freight shipments with respect to volume and weight.