Includes Taiwan real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Taiwan economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Taiwan best banks and safest banks are also available.
Basic Information
Government Type: Semi-presidential republic
Capital City: Taipei
GDP & Economic Information
Macroeconomy & Sovereign Data
| Central Bank | Central Bank of the Republic of China (Taiwan) |
|---|---|
| Currency | New Taiwan dollars (TWD) |
| International Reserves | N/A |
| Gross Domestic Product – GDP | USD 589.4 billion (2018, estimate) |
| GDP (Purchasing Power Parity) | Intl$ 1,251.5 billion (2018, estimate) |
GDP Data
| Real GDP growth |
2007 6.5% 2008 0.7% 2009 -1.6% 2010 10.6% 2011 3.8% 2012 2.1% 2013 2.2% 2014 4% 2015 0.8% 2016 1.5% 2017 3.1% 2018* 2.6% *Estimate |
|---|---|
| GDP per capita – current prices | USD 24,971.4 (2018, estimate) |
| GDP per capita – PPP | Intl$ 53,023.1 (2018, estimate) |
| GDP (PPP) – share of world total |
1980 0.52% 1990 0.79% 2000 0.97% 2010 0.98% 2019* 0.92% |
| GDP – composition by sector |
agriculture: 1.8% industry: 36% services: 62.1% (2017 estimate) |
| Gross domestic expenditure on R&D; (% of GDP) | 3.3% (2017) |
| Inflation |
2015 -0.6% 2016 1% 2017 1.1% 2018* 1.5% 2019* 0.8% *Estimate |
Taiwan
Economics, Policy & Regulation
Presidential Election Puts Taiwan At A Crossroads
Inflation & Debt
| Inflation |
2015 -0.6% 2016 1% 2017 1.1% 2018* 1.5% 2019* 0.8% *Estimate |
|---|---|
| Government Bond Ratings |
Standard & Poor’s: AA- Moody’S: Aa3 Standard & Poor’s / Moody’s |
| Unemployment rate |
2015 3.8% 2016 3.9% 2017 3.8% 2018* 3.7% 2019* 3.8% *Estimate |
| Household saving rates | N/A |
| Public debt (General government gross debt as a % of GDP) |
2015 36.6% 2016 36.2% 2017 35.5% 2018* 35.1% 2019* 33.6% *Estimate |
| Public deficit (General government net lending/borrowing as a % of GDP) |
2015 -1.8% 2016 -2.2% 2017 -2% 2018* -1.9% 2019* -1.3% *Estimate |
| Market value of publicly traded shares |
2016 N/A 2017 N/A 2018 N/A |
| Largest Companies |
Hon Hai Precision, Taiwan Semiconductor, Cathay Financial, Fubon Financial, CTBC Financial, Formosa Petrochemical, Formosa Chemicals, Nan Ya Plastics, Formosa Plastics, China Steel, Chunghwa Telecom, Mega Financial Holding, ASE Technology Holding, Hua Nan Financial, LARGAN Precision, Shanghai Commercial & Savings Bank, Compal Electronics, Chang Hwa Bank, Taishin Financial Holdings, Wistron, Far Eastern New Century, Mercuries & Associates, Taiwan Business Bank, WPG Holdings, SinoPac Financial, Inventec, President Chain Store, Nanya Technology, Yageo Corporation, AU Optronics, Innolux, Synnex Technology Intl, Catcher Technology, Asustek Computer, Taiwan Cement, Quanta Computer, Uni-President, Shin Kong Financial, MediaTek, First Financial Holding, E.Sun Financial, Taiwan Cooperative Financial, China Development Financial, Pegatron, Yuanta Financial Holding, Delta Electronics, China Life Insurance (Taiwan) |
Import/Export
| Exports as percent of GDP (Exports of goods and services) | N/A |
|---|---|
| Shares in world total merchandising export | N/1.72% (2018) |
| Shares in world total commercial services export | 0.87% (2018) |
| Total exports | USD 403.7 billion (2018 estimate) |
| Export commodities | Semiconductors, petrochemicals, automobile/auto parts, ships, wireless communication equipment, flat display displays, steel, electronics, plastics, computers |
| Total imports | USD 342.3 billion (2018 estimate) |
| Import commodities | Oil/petroleum, semiconductors, natural gas, coal, steel, computers, wireless communication equipment, automobiles, fine chemicals, textiles |
| Exports – major partners | N/A |
| Imports – major partners | N/A |
Competitiveness & Trade
| Current account balance | USD 72.0 billion (2018 estimate) |
|---|---|
| Current account balance by percentage of GDP | 12.2 % (2018 estimate) |
| FDI inflows |
2016 USD 9,261 million 2017 USD 3,291 million 2018 USD 6,998 million |
| FDI Outflows |
2016 USD 17,946 million 2017 USD 11,552 million 2018 USD 18,024 million |
| Value of cross-border M&A, by country of purchaser |
2015 USD 4,407 million 2016 USD 4,407 million 2017 USD 101 million 2018 USD 203 million |
| Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
| Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
| Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 1 5 out of 190 countries Subcategories: Starting a Business: 21 out of 190 countries Dealing with Construction Permits: 6 out of 190 countries Getting Electricity: 9 out of 190 countries Registering Property: 20 out of 190 countries Getting Credit: 104 out of 190 countries Protecting Minority Investors: 21 out of 190 countries Paying Taxes: 39 out of 190 countries Trading across Borders: 61 out of 190 countries Enforcing Contracts: 11 out of 190 countries Resolving Insolvency: 23 out of 190 countries |
| Global competitiveness ranking | 12 out of 141 countries(2019) |
| Index of Economic Freedom |
Ranking: 10 / Score: 77.3 (Mostly free) (100=totally free 0=totally repressed) |
Population & Geographic Data
| Total Area | 35,980 sq km |
|---|---|
| Total Population |
1990 20.40 Million 2000 22.28 Million 2010 23.16 Million 2015 23.49 Million 2020 23.62 Million |
| Urban population as % of total population |
1960 N/A 1980 N/A 2000 N/A 2018 N/A |
| Population median age | 41.3 years |
| Population growth rate | 0.15% (2018 estimate) |
| Life expectancy | 80.4 years (2018 estimate) |
| % of population living on less than $3.10 a day | N/A |
| Inequality of wealth distribution (Gini index) | N/A |
| Freedom House rating |
TFree Political Rights: 1 Civil Liberties: 1 (2019) (1 represents the most free, 7 the least free rating) |
| Total telephone subscribers as % of population |
Fixed: 55.5% Mobile: 123.7% (2018) (fixed-telephone subscribers and mobile-cellular subscribers) |
| Internet users as % of total population | 92.78 % (2017) |
Language & Religon
| Languages | Mandarin Chinese (official), Taiwanese (Min Nan), Hakka dialects, approximately 16 indigenous languages |
|---|---|
| Literacy |
Total population: 98.5% Male: 99.7% Female: 97.3% Definition: age 15 and over can read and write (2014 est.) |
| Religions | Buddhist 35.3%, Taoist 33.2%, Christian 3.9%, folk (includes Confucian) approximately 10%, none or unspecified 18.2% (2005 est.) |
World Rankings
| Population | 23.62 million |
|---|---|
| Mercer Cost of living index | Taipei: 35th (2019) |
| C02 Emissions per capita | N/A |
Global Finance Rankings & Awards: Taiwan
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000