TAMI: U.S. Surpasses China as Taiwan’s Top Machinery Export Market in 2024

The Taiwan Association of Machinery Industry (TAMI) reported that in 2024, Taiwan's machinery and equipment exports to the U.S. reached $7.19 billion, accounting for 24.6% of total exports, surpassing China’s $6.86 billion (23.4%). This marks the U.S. officially overtaking China as Taiwan’s largest machinery export destination.

David Chuang, Chairman of TAMI, revealed that Taiwan’s overall machinery production value for 2024 is projected to remain consistent with 2023, estimated at approximately NT$1.2 trillion. Looking ahead to 2025, Chuang emphasized that international political and economic dynamics, particularly the U.S.-China competition and their respective domestic economic policies, will significantly influence Taiwan’s machinery export performance.

Following the sharp downturn in 2023, Chuang expects Taiwan's machinery exports to gradually recover in 2025. He noted that while the U.S. and China remain the top two export markets, Japan ranks third, with exports valued at $2.15 billion, representing 7.3% of the total. The U.S. and China together accounted for nearly half of Taiwan's total machinery exports in 2024.

Chuang highlighted the shifting export landscape, pointing out that in 2021, China was Taiwan’s top machinery export market, accounting for 30.9% ($10.23 billion) of total exports. However, by 2022, China’s share had declined to 25.9% ($8.98 billion). This decline, combined with steady growth in the U.S. market, has led to the U.S. becoming Taiwan’s primary machinery export destination.