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Taiwan

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

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

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