06/11/2020
Taiwan's Auto Parts Industry
Taiwan, a Major Global Player in Auto Parts
Over 80% of Taiwanese auto parts manufacturers are exporting their components overseas, with the main export destinations are the United States, Japan, China, and the United Kingdom. Among them, the US exports account for more than 40%, which shows the importance of the United States to the Taiwan auto parts industry. Europe has also become a popular destination; in 2017, the ratio of exports to Europe accounted for nearly 30% of total auto parts exports. For example, the exports to Germany in 2017 are valued at US$188.6 million, an increase of 27.96% compared to the same period in 2016. Also, Taiwan is the twenty-fourth largest importing country for the Italian auto parts industry. The cumulative import value in the first three quarters of 2018 was 110.18 million euros, a decline of 8.7% compared to the same period in 2017, accounting for 0.93% of the whole import market in Italy. Taiwan's auto parts industry has continued to maintain its competitiveness in the global market due to the advantages of high-mix, low-volume and flexible production, an established solid market share with excellent after-sales service, competitive pricing, and stable quality.
