NO MORE FALSE DAWNS IN TAIWAN
COUNTRY REPORT | TAIWAN
Taiwan’s bright fundamentals are underpinned by a revival in both export and import demand, but could a housing bubble be on the horizon?
Taiwan GDP and Economic Data
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.
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Central bank
Central Bank of the Republic of China (Taiwan)
GDP (Purchasing Power Parity)
Intl$ 1,251.5 billion (2018, estimate)
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Real GDP growth
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 |
| 6.5% | 0.7% | -1.6% | 10.6% | 3.8% | 2.1% | 2.2% |
| 2014 | 2015 | 2016 | 2017 | 2018* | ||
| 4% | 0.8% | 1.5% | 3.1% | 2.6% |
*Estimate
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GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2019* |
| 0.52% | 0.79% | 0.97% | 0.98% | 0.92% |
*Estimate
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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 | 2016 | 2017 | 2018* | 2019* |
| -0.6% | 1% | 1.1% | 1.5% | 0.8% |
*Estimate
Source
Unemployment rate
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 3.8% | 3.9% | 3.8% | 3.7% | 3.8% |
*Estimate
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Public debt (General government gross debt as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 36.6% | 36.2% | 35.5% | 35.1% | 33.6% |
*Estimate
Source
Public deficit (General government net lending/borrowing as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| -1.8% | -2.2% | -2% | -1.9% | -1.3% |
*Estimate
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Government bond ratings
Standard & Poor's: AA-
Moody'S: Aa3
Standard & Poor's / Moody's
Source
Market value of publicly traded shares
| 2016 | 2017 | 2018 |
| N/A | N/A | 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)
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Current account balance by percentage of GDP
12.2 % (2018 estimate)
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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)
Export commodities
Semiconductors, petrochemicals, automobile/auto parts, ships, wireless communication equipment, flat display displays, steel, electronics, plastics, computers
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Import commodities
Oil/petroleum, semiconductors, natural gas, coal, steel, computers, wireless communication equipment, automobiles, fine chemicals, textiles
FDI inflows
| 2016 | 2017 | 2018 |
| USD 9,261 million | USD 3,291 million | USD 6,998 million |
FDI outflows
| 2016 | 2017 | 2018 |
| USD 17,946 million | USD 11,552 million | USD 18,024 million |
Value of cross-border M&A, by country of purchaser
| 2015 | 2016 | 2017 | 2018 |
| USD 4,407 million | USD 5,494 million | USD 101 million | USD 203 million |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
(for a monthly update on M&A; click here )
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
(for a monthly update on M&A; click here )
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
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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)
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Languages
Mandarin Chinese (official), Taiwanese (Min Nan), Hakka dialects, approximately 16 indigenous languages
Religions
Buddhist 35.3%, Taoist 33.2%, Christian 3.9%, folk (includes Confucian) approximately 10%, none or unspecified 18.2% (2005 est.)
Total population
| 1990 | 2000 | 2010 | 2015 | 2020* |
| 20.40 million | 22.28 million | 23.16 million | 23.49 million | 23.62 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2018 |
| N/A | N/A | N/A | N/A |
Literacy
Total population: 98.5%
Male: 99.7%
Female: 97.3%
Definition: age 15 and over can read and write (2014 est.)
Freedom House rating
Free
Political Rights: 1
Civil Liberties: 1 (2019)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed: 55.5%
Mobile: 123.7%
(2018)
(fixed-telephone subscribers and mobile-cellular subscribers)