In 2023, Taiwan’s gross domestic product amounted to around 755.67 billion U.S. dollars. Gross domestic product (GDP) denotes the aggregate value of all services and goods produced within a country in any given year. Taiwan’s GDP is projected to reach 956.17 billion U.S. dollars by 2029. Taiwan has the largest economy of any nation not a member of the United Nations (UN). Analyzing Taiwan’s economy Taiwan’s services sector generates the highest share of its GDP, at around 62 percent, though its industry sector also contributes about 35 percent to overall GDP in Taiwan. During the last decade, Taiwan has consistently held a trade surplus, and is known for its exports of electronics, machinery, and petrochemicals. Taiwan’s population Taiwan is a densely populated state, with a total population of about 23 million people, most of whom are between the ages of 15-64 years. Many members of the population are working; the unemployment rate was at only 3.8 percent in 2017. As one of the world’s technology hardware centers, Taiwan’s work force is comprised of high-skilled workers capable of navigating new technologies, such as artificial intelligence and blockchain.

In 2024, the annual growth rate of the real gross domestic product (GDP) in Taiwan amounted to approximately 4.3 percent. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. GDP development in Taiwan The GDP of Taiwan displayed a comparatively stable development over the last decade with growth rates averaging 3.3 percent between 2014 and 2024. This strong economic performance was mainly due to the successful development of high-tech industries, especially in the electronics sector, and the firm integration into global value chains. The industrial sector of Taiwan is still comparatively large and produces many intermediate products for the global market. Despite the island’s small size, Taiwan is among the leading exporters and has one of the highest trade surpluses in the world. GDP per capita reached around 32,400 U.S. dollars in 2023. Current economic development Taiwan was among few to be able to maintain strong economic growth during the global spread of the coronavirus pandemic in 2020 and 2021. At the end of 2022, the country was hit by the global economic downturn, and quarterly GDP growth dropped to -3.5 percent in the first quarter of 2023. However, the economy rebounded quickly and returned to positive growth in the second quarter.

The Gross Domestic Product (GDP) in Taiwan expanded 2.90 percent in the fourth quarter of 2024 over the same quarter of the previous year. This dataset provides - Taiwan GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in Taiwan expanded 6.64 percent in the fourth quarter of 2024 over the previous quarter. This dataset provides - Taiwan GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Taiwan Real GDP Growth

• The Gross Domestic Product (GDP) in Taiwan contracted 0.5 % YoY in Dec 2022, following a growth of 3.7 % in the previous quarter.
• Real GDP Growth YoY data in Taiwan is updated quarterly, available from Mar 1983 to Dec 2022, with an average rate of 5.9 %.
• The data reached an all-time high of 14.4 % in Jun 1987 and a record low of -8.0 % in Mar 2009.

CEIC calculates Real GDP Growth from quarterly Real GDP. The Directorate-General of Budget, Accounting and Statistics, Executive Yuan provides Real GDP in local currency, at chain linked 2016 prices.


Related information about Taiwan Real GDP Growth

• In the latest reports, Nominal GDP of Taiwan reached 182.4 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 1.5 % in Dec 2022.
• GDP Per Capita in Taiwan reached 32,811.0 USD in Dec 2022.
• Its Gross Savings Rate was measured at 37.6 % in Dec 2022.
• For Nominal GDP contributions, Investment accounted for 26.2 % in Dec 2022.
• Public Consumption accounted for 15.1 % in Dec 2022.
• Private Consumption accounted for 47.1 % in Dec 2022.

This statistic depicts the size of the work force in Taiwan from 2000 to 2024. In 2024, approximately 11.6 million people had been employed in Taiwan.

The growth of the real gross domestic product (GDP) in Taiwan was forecast to continuously decrease between 2024 and 2029 by in total 1.6 percentage points. According to this forecast, in 2029, the growth will have decreased for the fifth consecutive year to 2.15 percent. Following the definition of the International Monetary Fund, this indicator refers to the annual change in the gross domestic product at constant prices, expressed in national currency units. Here the gross domestic product represents the total value of the final goods and services produced during a year.Find more key insights for the growth of the real gross domestic product (GDP) in countries like Japan, China, and Hong Kong SAR China.

Full Year GDP Growth in Taiwan increased to 4.59 percent in 2024 from 1.12 percent in 2023. This dataset includes a chart with historical data for Taiwan Full Year Gdp Growth.

In 2024, the gross domestic product (GDP) of Taiwan amounted to around 25.5 trillion New Taiwan dollars or 793.2 billion U.S. dollars (at current prices). Annual GDP growth increased to 4.3 percent in 2024 and was forecasted to reach 3.3 percent in 2025. Quarterly GDP growth reached 1.8 percent in the fourth quarter of 2024. Taiwan’s economic development Gross domestic product (GDP) measures the value of all goods and services produced in an economy over a certain time, normally a year. It is a primary indicator of economic strength. Although Taiwan is a comparatively small island, it has a highly developed economy with a high per capita GDP in comparison to other economies in Asia-Pacific.Taiwan is highly integrated in international value chains and is well known for its computer and chip industries. Over the last decade, Taiwan experienced stable economic growth averaging more than three percent, and had comparatively low inflation and unemployment rates. Important economic sectors Taiwan maintains a significant industrial sector. Manufacturing alone contributes around one third to the total GDP, while wholesale and retail trade made up for around 16 percent in 2023. This is due to a high export orientation of the economy, with electronic parts being the leading export products. The service sector has been stable at around 62 percent of the GDP over the last decade.

Key information about Taiwan Market Capitalization: % of GDP

• Taiwan Market Capitalization accounted for 289.2 % of its Nominal GDP in Dec 2024, compared with a percentage of 240.9 % in the previous year
• Taiwan Market Capitalization: % Nominal GDP is updated yearly, available from Dec 1962 to Dec 2024
• The data reached an all-time high of 289.2 % in Dec 2024 and a record low of 6.1 % in Dec 1968

CEIC calculates Market Capitalization as % of Nominal GDP from annual Market Capitalization and annual Nominal GDP. Market Capitalization is calculated as the sum of the Market Capitalizations of Common and Preferred Stocks. Taiwan Stock Exchange Corporation provides Market Capitalization in local currency. The Directorate-General of Budget, Accounting and Statistics, Executive Yuan provides Nominal GDP in local currency. Market Capitalization as % of Nominal GDP prior to 1981 is calculated from Nominal GDP with reference year 2016.


Further information about Taiwan Market Capitalization: % of GDP

• In the latest reports, All Listed Stocks recorded a monthly P/E ratio of 21.8 in Jan 2025
• Month End closed at 23,525.4 points in Jan 2025

Taiwan's 2025 economic outlook is challenged by potential U.S. tariffs and national budget constraints, leading to adjusted GDP growth projections. Strategic global investments are crucial for mitigating these impacts.

In 2024, the industrial sector contributed approximately 39.8 percent to the overall gross domestic product (GDP) of Taiwan. This share has been largely stable since 2014. Taiwan’s total GDP was estimated at around 775 billion U.S. dollars in 2024. Taiwan’s GDP composition in comparison Like other East Asian countries such as South Korea and Japan, Taiwan maintains a strong industrial sector. This is due to a focus on high-tech production and a deep integration into global value chains, which enables the industrial sector to generate high economic growth rates. Taiwan is an important exporter of electronic products and the largest producer of advanced computer chips in the world. In contrast, many other developed economies such as the U.S. and EU member states have a significantly smaller manufacturing sector and put a stronger emphasis on services. Relevant economic sub-sectors Corresponding to Taiwan’s export-oriented economy, wholesale and retail trade is the most important service sub-sector of the economy. Finance and insurance accounted for less than seven percent of the total value added. A similar sector distribution is reflected in the sectoral employment structure. Both the distribution of value added, and the employment structure have been comparatively stable over the last decade.

Key information about Taiwan Foreign Direct Investment: % of GDP

• Taiwan Foreign Direct Investment (FDI) registered a growth equal to 1.4 % of the country's Nominal GDP in Dec 2024, compared with a growth equal to 1.3 % in the previous quarter.
• Taiwan Foreign Direct Investment: % of Nominal GDP data is updated quarterly, available from Mar 1981 to Dec 2024.
• The data reached an all-time high of 5.5 % in Dec 2016 and a record low -1.9 % in Mar 2011.

CEIC calculates Foreign Direct Investment as % of Nominal GDP from quarterly Foreign Direct Investment and quarterly Nominal GDP. The Central Bank of the Republic of China provides Foreign Direct Investment in USD based on BPM6. The Directorate-General of Budget, Accounting and Statistics, Executive Yuan provides Nominal GDP in USD. Foreign Direct Investment prior to Q1 1984 is based on BPM5.


Related information about Taiwan Foreign Direct Investment: % of GDP

• In the latest reports of Taiwan, Current Account recorded a surplus of 34.4 USD bn in Dec 2024.
• Foreign Direct Investment (FDI) increased by 2.9 USD bn in Dec 2024.
• Taiwan Direct Investment Abroad expanded by 7.0 USD bn in Dec 2024.
• Its Foreign Portfolio Investment fell by 6.6 USD bn in Dec 2024.
• The country's Nominal GDP was reported at 185.2 USD bn in Mar 2023.

GDP from Services in Taiwan increased to 3747356 TWD Million in the fourth quarter of 2024 from 3537104 TWD Million in the third quarter of 2024. This dataset provides - Taiwan Gdp From Services- actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP from Public Administration in Taiwan decreased to 291773 TWD Million in the fourth quarter of 2024 from 305691 TWD Million in the third quarter of 2024. This dataset provides - Taiwan Gdp From Public Administration- actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP from Mining in Taiwan increased to 3582 TWD Million in the fourth quarter of 2024 from 2748 TWD Million in the third quarter of 2024. This dataset provides - Taiwan Gdp From Mining- actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP from Construction in Taiwan decreased to 138426 TWD Million in the fourth quarter of 2024 from 156210 TWD Million in the third quarter of 2024. This dataset provides - Taiwan Gdp From Construction- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Taiwan Current Account Balance: % of GDP

• Taiwan Current Account surplus accounted for 16.4 % of the country's Nominal GDP in Dec 2024, compared with a 12.9 % surplus in the previous quarter.
• Taiwan Current Account Balance: % of Nominal GDP data is updated quarterly, available from Mar 1974 to Dec 2024, with an average value of 7.2 %.
• The data reached an all-time high of 22.6 % in Sep 1986 and a record low of -12.8 % in Jun 1974.

CEIC calculates Current Account Balance as % of Nominal GDP from quarterly Current Account Balance and quarterly Nominal GDP. The Central Bank of the Republic of China provides Current Account Balance in USD based on BPM6. The Directorate-General of Budget, Accounting and Statistics, Executive Yuan provides Nominal GDP in USD. Current Account Balance prior to Q1 1984 is based on BPM5 and prior to Q1 1981 is based on BPM4.


Key information about Taiwan Current Account Balance: % of GDP

• In the latest reports of Taiwan, Current Account recorded a surplus of 34.4 USD bn in Dec 2024.
• Foreign Direct Investment (FDI) increased by 2.9 USD bn in Dec 2024.
• Taiwan Direct Investment Abroad expanded by 7.0 USD bn in Dec 2024.
• Its Foreign Portfolio Investment fell by 6.6 USD bn in Dec 2024.
• The country's Nominal GDP was reported at 185.2 USD bn in Mar 2023.

Graph and download economic data for Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Taiwan (PGDPUSTWA621NUPN) from 1951 to 2010 about Taiwan, PPP, per capita, and GDP.

Taiwan's Economy Ministry has yet to receive formal applications from TSMC concerning potential investment in Intel. The government's oversight role remains crucial amid ongoing U.S.-Taiwan economic dialogues.