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Taiwan's economy in numbers:
Nominal GDP of USD 761 billion in 2022.
Nominal GDP of USD 755 billion in 2023.
GDP per capita of USD 32,394 compared to the global average of USD 10,589.
GDP per capita of USD 32,698 compared to the global average of USD 10,589.
Average real GDP growth of 3.2% over the last decade.
Average real GDP growth of 3.1% over the last decade.
Economic structure:
In 2021, services accounted for 62% of overall GDP, manufacturing 32%, other industrial activity 4%, and agriculture 2%. Looking at GDP by expenditure, private consumption accounted for 45% of GDP in 2021, government consumption 14%, fixed investment 26%, and net exports 15%.International trade:
In 2021, manufactured products made up % of total merchandise exports, mineral fuels %, food %, ores and metals % and agricultural raw materials %, with other categories accounting for 31% of the total. In the same period, manufactured products made up % of total merchandise imports, mineral fuels %, food %, ores and metals % and agricultural raw materials 69%, with other goods accounting for 2% of the total. Total exports were worth USD 432 billion in 2023, while total imports were USD 352 billion.Economic growth:
The economy recorded average annual growth of 3.1% in the decade to 2022. To read more about GDP growth in Taiwan, go to our dedicated page.
Fiscal policy:
Taiwan's fiscal deficit averaged 0.5% of GDP in the decade to 2022. Find out more on our dedicated page.
Unemployment:
The unemployment rate averaged 3.9% in the decade to 2022. For more information on Taiwan's unemployment click here.
Inflation:
Inflation averaged 1.1% in the decade to 2022. Go to our Taiwan inflation page for extra insight.
Monetary Policy:
Taiwan's monetary policy rate ended 2022 at 1.75%, down from 1.88% a decade earlier. See our Taiwan monetary policy page for additional details.
Exchange Rate:
From end-2012 to end-2022 the Taiwan dollar weakened by 5.5% vs the U.S. dollar. For more info on the Taiwan dollar, click here.
46 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 29 expert analysts.
Want to get insight on the economic outlook for Taiwan in the coming years? FocusEconomics collects projections out to 2034 on 46 economic indicators for Taiwan from a panel of 29 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Taiwan economy. To download a sample report on the Taiwan's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.