Taiwan’s trade with Germany in 2021 passed US$20 billion, a new record between the two nations. That report came from the German Trade Office Taipei (GTO), stating that this figure was a 27.5 percent increase from US$16.2 billion in Taiwan-Germany trade in 2020.
GTO Chief Representative and Executive Director Axel Limburg says that Germany is Taiwan’s most important trade partner in Europe. In addition, Limberg says that both imports and exports between the two countries rose significantly, proving that both sides benefit from their trade arrangements.
Most of Taiwan’s exports to Germany consist of machinery and electrical equipment. These two categories also made up the majority of Taiwan’s imports from Germany. Limberg says that Germany and Taiwan’s technology imports and exports balance out well to suit both countries’ needs. He says that continuing to develop this relationship in the area of smart technology could lead to tremendous achievements in terms of artificial intelligence, biotechnology, and other areas.
The GTO says it plans to host a meeting between major German companies in Taiwan and Taiwan’s economic affairs ministry. This meeting is set for February 22, and GTO says it will center on the two countries' future economic collaborations and co-development of key industries.
