5 Amazing facts about Taiwan GDP and its Economy

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Taiwan country overview

Before we start talking about Taiwan GDP, Firstly we discuss Taiwan’s country overview. Taiwan is officially called the Republic of China. Taiwan is located in East Asia.

Taiwan GDP
Taiwan GDP

Taipei is the Capital city of Taiwan. New Taipei is the largest city in Taiwan. Its official language is Taiwanese Mandarin. Taiwan’s national languages are Hakka, Hokkien, Matsu and others. When we talk about its Ethnic groups, so Han Taiwanese are 95%, Hakka are 14% and other ethnic groups live in Taiwan.

In religions, Buddhism 35%, Taoism 33%, No religion 19% and other religions exist in Taiwan. When we talk about its government system, so Taiwan’s government system is the Unitary Semi-presidential constitutional republic. Its president name is Tsai ing-wen.

Its legislative Yuan president name is Yu Shyi-Kun. Its Judicial Yuan president name is Hsu Tzong-li. Taiwan’s Examination Yuan president name is Huang Jong-tsun. Taiwan’s total area is 36,198 km2. Its total population is 23,451,800 according to the year 2021.

Taiwan’s population rank is 56th in the world. Its population density is 650 / km2 which is considered a very high-density population area in the world. Taiwan’s population density rank is 10th in the world.

Taiwan Economy overview

Taiwan’s currency is called the New Taiwan dollar. This country is generally called the Developed and Advanced and also the High-income economy.

Taiwan’s inflation rate is 1.3% in the year 2021. When we talk about poverty in Taiwan, so Taiwan’s 1.5% population is living below the poverty line. When we talk about Human Development in Taiwan, so its Human Development Index is 0.916 in the year 2019.

Taiwan’s HDI rate is considered the highest in the world. Its total labour force is 12 million according to the year 2017. When we talk about its Labor force by occupation, so agriculture is 5%, industry 36% and services are 60% in the year 2016.

The unemployment rate in Taiwan is 3.6% in the year 2020. Taiwan’s gross external debt is $181 billion in the year 2017. Its Foreign reserves are $540 billion in the year 2021.

Taiwan GDP

Taiwan’s total GDP is $760 billion (nominal) and $1.4 trillion (PPP) in the year 2021. Its GDP rank is 21st (nominal) and 19th (PPP) in the year 2021.

Taiwan’s GDP growth rate is 5.8% in the year 2021. Its GDP per capita is $32,120 (nominal) and $59,400 (PPP) in the year 2021. Its GDP per capita rank is 29th (nominal) and 13th (PPP) in the year 2021. When we talk about its GDP by sector, so agriculture: 1.7%, industry: 37% and services are 62% according to the year 2017.

Exports

Taiwan’s total exports are $345 billion in the year 2020. Its main export goods are ships, semiconductors, auto parts, steel, computers etc. Its main export partners are China, United States, Japan, European Union and others. 

Imports

Its total imports are $286 billion in the year 2020. Its main import goods are oil, petroleum, coal, steel, automobiles, chemicals, textiles etc. Its main import partners are China, Japan, United States, European Union, South Korea etc.

For more detail about GDP (Gross Domestic Product): Please Click Here.

For more detail about Taiwan GDP and its Economy: Please Click Here.

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