diff --git a/src/test/index.spec.ts b/src/test/index.spec.ts
index 4f4a19c5a..927d2db1d 100644
--- a/src/test/index.spec.ts
+++ b/src/test/index.spec.ts
@@ -82,6 +82,10 @@ test.suite('ts-node', (test) => {
   const cmd = `"${BIN_PATH}" --project "${PROJECT}"`;
   /** Default `ts-node` invocation without `--project` */
   const cmdNoProject = `"${BIN_PATH}"`;
+  const experimentalModulesFlag = semver.gte(process.version, '12.17.0')
+    ? ''
+    : '--experimental-modules';
+  const cmdEsmLoaderNoProject = `node ${experimentalModulesFlag} --loader ts-node/esm`;
 
   test('should export the correct version', () => {
     expect(VERSION).to.equal(require('../../package.json').version);
@@ -346,6 +350,19 @@ test.suite('ts-node', (test) => {
       expect(stdout).to.contain('Hello World!');
     });
 
+    if (semver.gte(process.version, '12.16.0')) {
+      test('swc transpiler supports native ESM emit', async () => {
+        const { err, stdout } = await exec(
+          `${cmdEsmLoaderNoProject} ./index.ts`,
+          {
+            cwd: resolve(TEST_DIR, 'transpile-only-swc-native-esm'),
+          }
+        );
+        expect(err).to.equal(null);
+        expect(stdout).to.contain('Hello file://');
+      });
+    }
+
     test('should pipe into `ts-node` and evaluate', async () => {
       const execPromise = exec(cmd);
       execPromise.child.stdin!.end("console.log('hello')");
@@ -1770,23 +1787,24 @@ test.suite('ts-node', (test) => {
   });
 
   test.suite('esm', (test) => {
-    const experimentalModulesFlag = semver.gte(process.version, '12.17.0')
-      ? ''
-      : '--experimental-modules';
-    const esmCmd = `node ${experimentalModulesFlag} --loader ts-node/esm`;
-
     if (semver.gte(process.version, '12.16.0')) {
       test('should compile and execute as ESM', async () => {
-        const { err, stdout } = await exec(`${esmCmd} index.ts`, {
-          cwd: join(TEST_DIR, './esm'),
-        });
+        const { err, stdout } = await exec(
+          `${cmdEsmLoaderNoProject} index.ts`,
+          {
+            cwd: join(TEST_DIR, './esm'),
+          }
+        );
         expect(err).to.equal(null);
         expect(stdout).to.equal('foo bar baz biff libfoo\n');
       });
       test('should use source maps', async () => {
-        const { err, stdout } = await exec(`${esmCmd} "throw error.ts"`, {
-          cwd: join(TEST_DIR, './esm'),
-        });
+        const { err, stdout } = await exec(
+          `${cmdEsmLoaderNoProject} "throw error.ts"`,
+          {
+            cwd: join(TEST_DIR, './esm'),
+          }
+        );
         expect(err).not.to.equal(null);
         expect(err!.message).to.contain(
           [
@@ -1806,7 +1824,7 @@ test.suite('ts-node', (test) => {
             err,
             stdout,
           } = await exec(
-            `${esmCmd} --experimental-specifier-resolution=node index.ts`,
+            `${cmdEsmLoaderNoProject} --experimental-specifier-resolution=node index.ts`,
             { cwd: join(TEST_DIR, './esm-node-resolver') }
           );
           expect(err).to.equal(null);
@@ -1817,29 +1835,35 @@ test.suite('ts-node', (test) => {
             err,
             stdout,
           } = await exec(
-            `${esmCmd} --experimental-modules --es-module-specifier-resolution=node index.ts`,
+            `${cmdEsmLoaderNoProject} --experimental-modules --es-module-specifier-resolution=node index.ts`,
             { cwd: join(TEST_DIR, './esm-node-resolver') }
           );
           expect(err).to.equal(null);
           expect(stdout).to.equal('foo bar baz biff libfoo\n');
         });
         test('via NODE_OPTIONS', async () => {
-          const { err, stdout } = await exec(`${esmCmd} index.ts`, {
-            cwd: join(TEST_DIR, './esm-node-resolver'),
-            env: {
-              ...process.env,
-              NODE_OPTIONS: `${experimentalModulesFlag} --experimental-specifier-resolution=node`,
-            },
-          });
+          const { err, stdout } = await exec(
+            `${cmdEsmLoaderNoProject} index.ts`,
+            {
+              cwd: join(TEST_DIR, './esm-node-resolver'),
+              env: {
+                ...process.env,
+                NODE_OPTIONS: `${experimentalModulesFlag} --experimental-specifier-resolution=node`,
+              },
+            }
+          );
           expect(err).to.equal(null);
           expect(stdout).to.equal('foo bar baz biff libfoo\n');
         });
       });
 
       test('throws ERR_REQUIRE_ESM when attempting to require() an ESM script when ESM loader is enabled', async () => {
-        const { err, stderr } = await exec(`${esmCmd} ./index.js`, {
-          cwd: join(TEST_DIR, './esm-err-require-esm'),
-        });
+        const { err, stderr } = await exec(
+          `${cmdEsmLoaderNoProject} ./index.js`,
+          {
+            cwd: join(TEST_DIR, './esm-err-require-esm'),
+          }
+        );
         expect(err).to.not.equal(null);
         expect(stderr).to.contain(
           'Error [ERR_REQUIRE_ESM]: Must use import to load ES Module:'
@@ -1847,9 +1871,12 @@ test.suite('ts-node', (test) => {
       });
 
       test('defers to fallback loaders when URL should not be handled by ts-node', async () => {
-        const { err, stdout, stderr } = await exec(`${esmCmd} index.mjs`, {
-          cwd: join(TEST_DIR, './esm-import-http-url'),
-        });
+        const { err, stdout, stderr } = await exec(
+          `${cmdEsmLoaderNoProject} index.mjs`,
+          {
+            cwd: join(TEST_DIR, './esm-import-http-url'),
+          }
+        );
         expect(err).to.not.equal(null);
         // expect error from node's default resolver
         expect(stderr).to.match(
@@ -1858,16 +1885,19 @@ test.suite('ts-node', (test) => {
       });
 
       test('should bypass import cache when changing search params', async () => {
-        const { err, stdout } = await exec(`${esmCmd} index.ts`, {
-          cwd: join(TEST_DIR, './esm-import-cache'),
-        });
+        const { err, stdout } = await exec(
+          `${cmdEsmLoaderNoProject} index.ts`,
+          {
+            cwd: join(TEST_DIR, './esm-import-cache'),
+          }
+        );
         expect(err).to.equal(null);
         expect(stdout).to.equal('log1\nlog2\nlog2\n');
       });
 
       test('should support transpile only mode via dedicated loader entrypoint', async () => {
         const { err, stdout } = await exec(
-          `${esmCmd}/transpile-only index.ts`,
+          `${cmdEsmLoaderNoProject}/transpile-only index.ts`,
           {
             cwd: join(TEST_DIR, './esm-transpile-only'),
           }
@@ -1876,9 +1906,12 @@ test.suite('ts-node', (test) => {
         expect(stdout).to.equal('');
       });
       test('should throw type errors without transpile-only enabled', async () => {
-        const { err, stdout } = await exec(`${esmCmd} index.ts`, {
-          cwd: join(TEST_DIR, './esm-transpile-only'),
-        });
+        const { err, stdout } = await exec(
+          `${cmdEsmLoaderNoProject} index.ts`,
+          {
+            cwd: join(TEST_DIR, './esm-transpile-only'),
+          }
+        );
         if (err === null) {
           throw new Error('Command was expected to fail, but it succeeded.');
         }
@@ -1899,7 +1932,7 @@ test.suite('ts-node', (test) => {
 
       async function runModuleTypeTest(project: string, ext: string) {
         const { err, stderr, stdout } = await exec(
-          `${esmCmd} ./module-types/${project}/test.${ext}`,
+          `${cmdEsmLoaderNoProject} ./module-types/${project}/test.${ext}`,
           {
             env: {
               ...process.env,
diff --git a/src/transpilers/swc.ts b/src/transpilers/swc.ts
index 1ece325e5..9b7361a08 100644
--- a/src/transpilers/swc.ts
+++ b/src/transpilers/swc.ts
@@ -49,6 +49,7 @@ export function create(createOptions: SwcTranspilerOptions): Transpiler {
     experimentalDecorators,
     emitDecoratorMetadata,
     target,
+    module,
     jsxFactory,
     jsxFragmentFactory,
   } = compilerOptions;
@@ -57,13 +58,23 @@ export function create(createOptions: SwcTranspilerOptions): Transpiler {
   function createSwcOptions(isTsx: boolean): swcTypes.Options {
     const swcTarget = targetMapping.get(target!) ?? 'es3';
     const keepClassNames = target! >= /* ts.ScriptTarget.ES2016 */ 3;
+    const moduleType =
+      module === ModuleKind.CommonJS
+        ? 'commonjs'
+        : module === ModuleKind.AMD
+        ? 'amd'
+        : module === ModuleKind.UMD
+        ? 'umd'
+        : undefined;
     return {
       sourceMaps: sourceMap,
       // isModule: true,
-      module: {
-        type: 'commonjs',
-        noInterop: !esModuleInterop,
-      },
+      module: moduleType
+        ? ({
+            noInterop: !esModuleInterop,
+            type: moduleType,
+          } as swcTypes.ModuleConfig)
+        : undefined,
       swcrc: false,
       jsc: {
         externalHelpers: importHelpers,
@@ -118,3 +129,14 @@ targetMapping.set(/* ts.ScriptTarget.ES2018 */ 5, 'es2018');
 targetMapping.set(/* ts.ScriptTarget.ES2019 */ 6, 'es2019');
 targetMapping.set(/* ts.ScriptTarget.ES2020 */ 7, 'es2019');
 targetMapping.set(/* ts.ScriptTarget.ESNext */ 99, 'es2019');
+
+const ModuleKind = {
+  None: 0,
+  CommonJS: 1,
+  AMD: 2,
+  UMD: 3,
+  System: 4,
+  ES2015: 5,
+  ES2020: 6,
+  ESNext: 99,
+} as const;
diff --git a/tests/transpile-only-swc-native-esm/index.ts b/tests/transpile-only-swc-native-esm/index.ts
new file mode 100644
index 000000000..8c6d0f5aa
--- /dev/null
+++ b/tests/transpile-only-swc-native-esm/index.ts
@@ -0,0 +1,2 @@
+const x: number = `Hello ${import.meta.url.slice(0, 7)}!`;
+console.log(x);
diff --git a/tests/transpile-only-swc-native-esm/package.json b/tests/transpile-only-swc-native-esm/package.json
new file mode 100644
index 000000000..3dbc1ca59
--- /dev/null
+++ b/tests/transpile-only-swc-native-esm/package.json
@@ -0,0 +1,3 @@
+{
+  "type": "module"
+}
diff --git a/tests/transpile-only-swc-native-esm/tsconfig.json b/tests/transpile-only-swc-native-esm/tsconfig.json
new file mode 100644
index 000000000..e0e3c9a90
--- /dev/null
+++ b/tests/transpile-only-swc-native-esm/tsconfig.json
@@ -0,0 +1,13 @@
+{
+  "ts-node": {
+    "transpileOnly": true,
+    "transpiler": "ts-node/transpilers/swc-experimental"
+  },
+  "compilerOptions": {
+    "target": "ES2018",
+    "module": "ESNext",
+    "allowJs": true,
+    "jsx": "react",
+    "experimentalDecorators": true
+  }
+}
diff --git a/tests/transpile-only-swc-via-tsconfig/index.ts b/tests/transpile-only-swc-via-tsconfig/index.ts
index e2f5a1e22..b7dfa09cd 100644
--- a/tests/transpile-only-swc-via-tsconfig/index.ts
+++ b/tests/transpile-only-swc-via-tsconfig/index.ts
@@ -7,3 +7,7 @@ class World {}
 parseInt(1101, 2);
 const x: number = `Hello ${World.name}!`;
 console.log(x);
+
+// test module type emit
+import { readFileSync } from 'fs';
+readFileSync;
diff --git a/tests/transpile-only-swc-via-tsconfig/tsconfig.json b/tests/transpile-only-swc-via-tsconfig/tsconfig.json
index e0e3c9a90..5097d63ac 100644
--- a/tests/transpile-only-swc-via-tsconfig/tsconfig.json
+++ b/tests/transpile-only-swc-via-tsconfig/tsconfig.json
@@ -5,7 +5,7 @@
   },
   "compilerOptions": {
     "target": "ES2018",
-    "module": "ESNext",
+    "module": "CommonJS",
     "allowJs": true,
     "jsx": "react",
     "experimentalDecorators": true
diff --git a/tests/transpile-only-swc/index.ts b/tests/transpile-only-swc/index.ts
index e2f5a1e22..b7dfa09cd 100644
--- a/tests/transpile-only-swc/index.ts
+++ b/tests/transpile-only-swc/index.ts
@@ -7,3 +7,7 @@ class World {}
 parseInt(1101, 2);
 const x: number = `Hello ${World.name}!`;
 console.log(x);
+
+// test module type emit
+import { readFileSync } from 'fs';
+readFileSync;
diff --git a/tests/transpile-only-swc/tsconfig.json b/tests/transpile-only-swc/tsconfig.json
index c1cf4bccd..78c35a9ca 100644
--- a/tests/transpile-only-swc/tsconfig.json
+++ b/tests/transpile-only-swc/tsconfig.json
@@ -1,7 +1,7 @@
 {
   "compilerOptions": {
     "target": "ES2018",
-    "module": "ESNext",
+    "module": "CommonJS",
     "allowJs": true,
     "jsx": "react",
     "experimentalDecorators": true