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Subject: Taiwan-Iran Economic Relations
Content: Overview of Bilateral TradeIn 2019, Iran was Taiwans 69th largest trading partner. Trade between Tai...

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Taiwan-Iran Economic Relations

Source:Bureau of Foreign Trade, Ministry of Economic Affairs
Revise Date:2020-05-15

Overview of Bilateral Trade

In 2019, Iran was Taiwan's 69th largest trading partner. Trade between Taiwan and Iran accounted for 0.029% of Taiwan's total trade. Of that figure, Taiwan’s exports to Iran made up 0.03% of Taiwan's total exports, or US$ 9.35million, and Taiwan's imports from Iran were 0.03% of total imports into Taiwan, reaching US$7.48 billion. Bilateral trade between the two sides amounted to US$0.17 billion in 2019, representing an decrease of 88.77% over the previous year. This can be separated into exports to Iran, which decreased by 10.59%, and imports from Iran, which decreased by 769%.

The main exports from Taiwan to Iran were steel, storage devices, storage units, and polyvinyl chloride. The main products imported from Iran to Taiwan were petroleum oils, aluminum, and steel.

 

Overview of Bilateral Investment

According to statistics from the Investment Commission of the Ministry of Economic Affairs, 78 Iranian direct investment (FDI) cases for a total amount of US$7.72 million were approved from1952 to 2019. Major Iranian investments in Taiwan were in machinery and equipment manufacturing and wholesale and retail.

As for Taiwan's outward investment in Iran, only 1 case was approved from 1952 to 2019. The approved investment amounted to US$183 thousand. The Taiwanese investment in Iran was in machinery and equipment manufacturing.

Published Date:2020-05-15