Who Relies on Taiwanese Trade

Following an official visit of U.S. Speaker of the House of Representatives Nancy Pelosi to Taiwan, relations between the island state known as the Republic of China and its direct neighbor, the People's Republic of China, have cooled considerably.

The People's Republic also has, to a certain extent, halted trade with Taiwan. While an import ban on Taiwanese fruits and fish is unlikely to become a source of global tensions, China's export stop on sand, a resource essential for the manufacturing of semiconductors, could prove devastating for countries like the U.S.

As our chart based on UN Comtrade data shows, 62% of the United States' total trade volume with Taiwan came from imports from the island state in 2021. A majority of these goods fall into the IT and electronics sector, with companies like Apple, Qualcomm and NVIDIA relying on chips manufactured in the large-scale semiconductor foundries of Taiwan.

Germany, South Africa, Brazil, Saudi Arabia and Japan are also Taiwan's principal trade partners in Europe, Africa, Latin America and the Caribbean, the Middle East and Oceania, respectively. Germany and Japan are especially reliant on the island's industry, with exports taking up 40% of the $21 billion in trade with the European country and 34% of the Japanese-Taiwanese trade volume of $86 billion.

The basis of the tensions between China and Taiwan is the hitherto unresolved question of independence. After the end of the Chinese civil war in 1949, the remaining supporters of the defeated Kuomintang retreated to the island. Once established there, they proclaimed the Republic of China, while the People's Republic sees the island, which is now governed democratically, as its own province. Largely ignored in this equation is the role of Taiwan's indigenous peoples, 16 of whom are officially recognized as ethnic minorities. After a long history of colonization by the Netherlands, Spain, China and Japan, they still made up about 2.4% of the population in 2019.

Source - UN Comtrade

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