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.
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 is 14% and other ethnic groups live in Taiwan.
Of religions, Buddhism is 35%, Taoism 33%, No religion 19%, and other religions exist in Taiwan. When we talk about its government system, Taiwan’s government system is the Unitary Semi-presidential constitutional republic. Its president’s name is Tsai ing-wen.
Its legislative Yuan president’s name is Yu Shyi-Kun. Its Judicial Yuan president’s name is Hsu Tzong-li. Taiwan’s Examination Yuan president’s 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, Taiwan’s 1.5% population is living below the poverty line. When we talk about Human Development in Taiwan, its Human Development Index is 0.916 in the year 2019.
Taiwan’s HDI rate is considered the highest in the world. Its total labor 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’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, agriculture: is 1.7%, industry: is 37%, and services are 62% according year 2017.
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, the United States, Japan, European Union, and others.
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, the United States, European Union, South Korea, etc.
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