Key figures: trade with Taiwan

In 2023, Taiwan ranked 58th by trade turnover among Lithuania’s 206 trade partners. The main exports to Taiwan were optical, chemical and food products, while the main imports were machinery and mechanical equipment, transport means, and optical products.

According to statistical data by the Statistics Lithuania, in 2023, Taiwan ranked 58 by trade turnover among 206 Lithuania‘s trade partners, 71 – by exports and 42 – by imports.

In 2023, the turnover of goods between the two countries amounted to €111.1 million. Exports to Taiwan amounted to €26.5 million (exports of goods of Lithuanian origin amounted to €20.8 million) and imports – €84.6 million.

In 2023, Lithuania exported goods of Lithuanian origin to Taiwan, mostly optical products (€5.5 million) – 26.4% of total exports of goods of Lithuanian origin to Taiwan, chemical products (€3.5 million) – 16.6% and food products (€3.4 million) – 16.5%.

In 2023, the main goods imported from Taiwan were machinery and mechanical equipment (€32.1 million) – 37.9% of total imports from Taiwan, transport means (€11.9 million) – 14%, optical products (€11.6 million) – 13.7% of total imports from Taiwan.

Key timeline events

Bilateral talks between Taiwanese and Lithuanian public institutions and business representatives are becoming more frequent, with topics up for discussion including the production of electrical vehicles, increasing the volume of Taiwanese freight moving via the Port of Klaipėda, direct flights between Taiwan and Lithuania, joint startup engagements, and cooperation with Taiwanese research centers and semiconductor and microchip manufacturers. Taiwan is also ramping up investment in Lithuania and showing interest in Lithuanian food products. In addition, participants of the Lithuanian-Taiwanese Trade and Investment Forum have signed a number of memoranda in areas ranging from fisheries to biotechnology.

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Areas Of Interest For Cooperation

Lithuania is in a position to establish bilateral partnerships with Taiwan to facilitate Lithuanian business missions, attract Taiwanese microchip-related investment, and cooperate with Taiwanese educational and research institutions to acquire the competencies necessary to build a semiconductor ecosystem. Taiwan is also interested in Lithuanian food products and other goods, with Lithuania potentially becoming Taiwan’s gateway to the rest of Europe.

Key areas:

  • semiconductors;

  • microchips;

  • lasers;

  • biotechnology;

  • joint startup and small enterprise development projects;

  • manufacturing industry;

  • tourism;

  • space;

  • fintech;

  • electric vehicle, smart manufacturing, and software development, as well as smart city solutions;

  • food industry;

Advantages of Lithuania

From gene editing techniques and open banking solutions to laser and VPN technology, Lithuanian goods and services are rapidly gaining recognition around the world. The close linkages between talent, educational institutions, and business drive innovation in Lithuania, while its geographical location makes it convenient for both international manufacturing and logistics companies. Lithuania is also among the EU leaders in e-infrastructure, FDI jobs per capita, broadband connection, and optical cable networks. To top it all off, Lithuania offers inexpensive living conditions, a great work-life balance, and internationally recognised, highly educated, multilingual talent.