The spread of the pandemic has driven long-distance work opportunities and the demand for electric vehicles (EV) and energy storage systems has increased. The aforementioned reasons have led to an increase in Taiwan's lithium-ion battery exports. According to the Bureau of Foreign Trade of the MOEA, Taiwan's lithium battery exports from January to May 2022 increased significantly by 86.1%.
The Bureau of Foreign Trade pointed out that the export value of Taiwan's lithium batteries has increased year by year from US$310 million in 2019 and reached US$420 million in 2021, an increase of 33.1%. From January to May 2022, the export value reached US$280 million, a significant increase of 86.1% over the same period the previous year. The main reason is that since 2019, the pandemic has driven long-distance business opportunities, changes in commuting habits, and the promotion of energy policies in various countries, which have driven up the demand for information and communication products, electric bicycles, and energy storage devices.
Foreign purchases of lithium-ion batteries from Taiwan have increased, while the United States and the Netherlands are Taiwan's top two export markets. From January to May 2022, the United States and the Netherlands accounted for 21.4% and 10.6% of Taiwan's exports, a substantial increase of 142.2% and 359.4%, respectively. The main exports to the United States are energy storage, backup systems, and batteries for EVs and lithium batteries for electric bicycles to the Netherlands.
The Bureau of International Trade pointed out that Taiwan's lithium-ion batteries are widely exported including for applications in computer/communications/consumer electronics products, electric hand tools, home appliances, electric bicycles, energy storage, and uninterruptible battery backup systems. At present, Taiwanese factories are also actively investing in the two fields of energy storage and EVs and have achieved good results in the international market. Taking the US market as an example, since 2019, the annual growth rate of lithium batteries imported from Taiwan by the United States has exceeded 30%.
At present, the battery industry is also planning to establish a supply chain in cooperation with the United States and Europe through overseas deployment, so as to enhance the important position of Taiwan's batteries in the international manufacturing industry chain and strive for business opportunities.
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