diff --git a/src/compiler/checker.ts b/src/compiler/checker.ts
index 560783a71b58d..9ad699f1adcb0 100644
--- a/src/compiler/checker.ts
+++ b/src/compiler/checker.ts
@@ -47515,7 +47515,7 @@ export function createTypeChecker(host: TypeCheckerHost): TypeChecker {
         }
         const target = getExportSymbolOfValueSymbolIfExported(resolveAlias(symbol));
         if (target === unknownSymbol) {
-            return true;
+            return !excludeTypeOnlyValues || !getTypeOnlyAliasDeclaration(symbol);
         }
         // const enums and modules that contain only const enums are not considered values from the emit perspective
         // unless 'preserveConstEnums' option is set to true
diff --git a/src/testRunner/unittests/services/transpile.ts b/src/testRunner/unittests/services/transpile.ts
index ddb040d7af356..a5d4efaf0b395 100644
--- a/src/testRunner/unittests/services/transpile.ts
+++ b/src/testRunner/unittests/services/transpile.ts
@@ -662,4 +662,15 @@ export * as alias from './file';`,
             testVerbatimModuleSyntax: true,
         },
     );
+
+    transpilesCorrectly(
+        "Elides re-export of type-only import",
+        `
+        import type { Foo } from "./types";
+        export { Foo };
+        `,
+        {
+            options: { compilerOptions: { module: ts.ModuleKind.ESNext, target: ts.ScriptTarget.ESNext } },
+        },
+    );
 });
diff --git a/tests/baselines/reference/transpile/Elides re-export of type-only import.js b/tests/baselines/reference/transpile/Elides re-export of type-only import.js
new file mode 100644
index 0000000000000..e113dbc728253
--- /dev/null
+++ b/tests/baselines/reference/transpile/Elides re-export of type-only import.js	
@@ -0,0 +1,2 @@
+export {};
+//# sourceMappingURL=file.js.map
\ No newline at end of file
diff --git a/tests/baselines/reference/transpile/Elides re-export of type-only import.oldTranspile.js b/tests/baselines/reference/transpile/Elides re-export of type-only import.oldTranspile.js
new file mode 100644
index 0000000000000..e113dbc728253
--- /dev/null
+++ b/tests/baselines/reference/transpile/Elides re-export of type-only import.oldTranspile.js	
@@ -0,0 +1,2 @@
+export {};
+//# sourceMappingURL=file.js.map
\ No newline at end of file