In 2024, Taiwan’s gross domestic product amounted to around 782.44 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 960.13 billion U.S. dollars by 2030. 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.

The Gross Domestic Product (GDP) in Taiwan was worth 756.59 billion US dollars in 2023, according to official data from the World Bank. The GDP value of Taiwan represents 0.72 percent of the world economy. This dataset provides - Taiwan GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2024, the gross domestic product (GDP) of Taiwan amounted to around **** trillion New Taiwan dollars or ***** billion U.S. dollars (at current prices). Annual GDP growth increased to *** percent in 2024 and was forecasted to reach *** percent in 2025. Quarterly GDP growth reached *** 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 ** 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 ** percent of the GDP over the last decade.

The Gross Domestic Product (GDP) in Taiwan expanded 5.48 percent in the first quarter of 2025 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.

In 2024, the growth of the real gross domestic product (GDP) in Taiwan stood at approximately 4.30 percent. Between 1980 and 2024, the figure dropped by around 3.74 percentage points, though the decline followed an uneven course rather than a steady trajectory. The forecast shows the growth will steadily decline by about 2.22 percentage points from 2024 to 2030.This indicator describes 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.

Key information about Taiwan GDP Per Capita

• Taiwan Gross Domestic Product (GDP) per Capita reached 32,756.000 USD in Dec 2022, compared with 33,059.000 USD in Dec 2021.
• Taiwan GDP Per Capita data is updated yearly, available from Dec 1951 to Dec 2022, with an average number of 4,693.000 USD.
• The data reached an all-time high of 33,059.000 USD in Dec 2021 and a record low of 140.000 in Dec 1959.

Related information about Taiwan GDP Per Capita data

• In the latest reports, Taiwan GDP contracted 2.500 % YoY in Mar 2023.
• Taiwan Nominal GDP reached 185.233 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 0.460 % in Mar 2023.
• Gross Savings Rate of Taiwan was measured at 36.490 % in Mar 2023.

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.

In 2024, the annual growth rate of the real gross domestic product (GDP) in Taiwan amounted to approximately 4.6 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.

This statistic shows the gross domestic product (GDP) per capita in Taiwan which amounts to approximately 34.43 thousand U.S. dollars in 2025.Fluctuating rise between 1980 and 2025Compared to the earliest depicted observation from 1980 this is a total increase by approximately 32.06 thousand U.S. dollars. The trajectory from 1980 to 2025 shows however that this increase did not happen continuously.Continuous rise between 2025 and 2030In 2030 the GDP per capita will stand at roughly 41.24 thousand U.S. dollars, according to forecasts. This indicates an overall increase by approximately 6.81 thousand U.S. dollars since 2025. This growth reflects a steady upward trend.This indicator describes the gross domestic product per capita at current prices. Thereby the gross domestic product was first converted from national currency to U.S. dollars at current exchange prices and then divided by the total population. The gross domestic products is a measure of a country's productivity. It refers to the total value of goods and service produced during a given time period (here a year).

Key information about Taiwan Nominal GDP

• Taiwan Nominal GDP reached 185.2 USD bn in Mar 2023, compared with 180.5 USD bn in the previous quarter.
• Nominal GDP in Taiwan is updated quarterly, available from Dec 1983 to Mar 2023, with an average number of 83.6 USD bn.
• The data reached an all-time high of 206.1 USD bn in Mar 2022 and a record low of 14.5 USD bn in Dec 1983.

CEIC converts quarterly Nominal GDP into USD. The Directorate-General of Budget, Accounting and Statistics, Executive Yuan provides Nominal GDP in local currency. Federal Reserve Board average market exchange rate is used for currency conversions.


Related information about Taiwan Nominal GDP

• In the latest reports, Taiwan GDP contracted 2.5 % YoY in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 0.5 % in Mar 2023.
• Taiwan GDP Per Capita reached 32,756.0 USD in Dec 2022.
• Its Gross Savings Rate was measured at 36.5 % in Mar 2023.
• For Nominal GDP contributions, Investment accounted for 27.7 % in Mar 2023.
• Public Consumption accounted for 14.4 % in Mar 2023.
• Private Consumption accounted for 50.3 % in Mar 2023.

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.

Taiwan TW: Gross Domestic Product (GDP): Current PPP data was reported at 1,697.994 USD bn in 2023. This records an increase from the previous number of 1,615.719 USD bn for 2022. Taiwan TW: Gross Domestic Product (GDP): Current PPP data is updated yearly, averaging 516.364 USD bn from Dec 1981 (Median) to 2023, with 43 observations. The data reached an all-time high of 1,697.994 USD bn in 2023 and a record low of 72.183 USD bn in 1981. Taiwan TW: Gross Domestic Product (GDP): Current PPP data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Taiwan – Table TW.OECD.MSTI: Gross Domestic Product, GDP PPP and GDP Deflator: Non OECD Member: Annual.

In Chinese Taipei, since 2003, the business sector includes R&D data of private enterprises in the sectors of electricity, gas and water supply; construction; and services, which were not surveyed before. Postgraduate students engaged in R&D were not included in the higher education sector until 2002.

Defence GBARD is included from 2001.

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.

GDP, billion currency units in Taiwan, March, 2025 The most recent value is 6648.68 billion Taiwanese New Dollar as of Q1 2025, a decline compared to the previous value of 6810.44 billion Taiwanese New Dollar. Historically, the average for Taiwan from Q1 1961 to Q1 2025 is 1975.27 billion Taiwanese New Dollar. The minimum of 16.21 billion Taiwanese New Dollar was recorded in Q3 1961, while the maximum of 6810.44 billion Taiwanese New Dollar was reached in Q4 2024. | TheGlobalEconomy.com

The statistic shows the gross domestic product (GDP) at current prices in Taiwan from 2014 to 2024 with a forecast until 2025. 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. In 2024, Taiwan's gross domestic product at current prices reached approximately ***** billion U.S. dollars.

Government Debt to GDP in Taiwan decreased to 28.20 percent in 2019 from 29.30 percent in 2018. This dataset provides - Taiwan Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Taiwan Investment: % of GDP

• Taiwan Investment accounted for 26.8 % of its Nominal GDP in Dec 2024, compared with a ratio of 25.9 % in the previous quarter.
• Taiwan investment share of Nominal GDP data is updated quarterly, available from Mar 1961 to Dec 2024, with an average ratio of 24.9 %.
• The data reached an all-time high of 48.9 % in Jun 1974 and a record low of 7.4 % in Sep 1963.

CEIC calculates Investment as % of Nominal GDP from quarterly Nominal Gross Capital Formation and quarterly Nominal GDP. Gross Capital Formation is calculated as the sum of Gross Fixed Capital Formation and Changes in Inventories. The Directorate-General of Budget, Accounting and Statistics, Executive Yuan provides Gross Capital Formation in local currency and Nominal GDP in local currency. Investment as % of Nominal GDP prior to Q1 1981 is calculated from Gross Capital Formation with reference year 2016.


Related information about Taiwan Investment: % of GDP

• In the latest reports, Taiwan GDP contracted 2.5 % YoY in Mar 2023.
• Taiwan Nominal GDP reached 185.2 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 0.5 % in Mar 2023.
• Taiwan GDP Per Capita reached 32,756.0 USD in Dec 2022.
• Its Gross Savings Rate was measured at 36.5 % in Mar 2023.

GDP from Services in Taiwan decreased to 3578865 TWD Million in the first quarter of 2025 from 3751147 TWD Million in the fourth quarter of 2024. This dataset provides - Taiwan Gdp From Services- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2024, the industrial sector contributed approximately **** 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 *** 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 Total Trade of Goods and Services: % of Nominal GDP

• Taiwan Total Trade of Goods & Services: % of Nominal GDP recorded 112.871 % in Dec 2024, compared with 118.809 % in the previous quarter.
• Taiwan Total Trade of Goods & Services: % of Nominal GDP data is updated quarterly, available from Mar 1961 to Dec 2024, with an averaged value of 95.692 %.
• The data reached an all-time high of 166.127 % in Sep 2008 and a record low of 28.568 % in Dec 1961.

CEIC calculates quarterly Total Trade of Goods and Services as % of Nominal GDP from quarterly Total Trade of Goods and Services and quarterly Nominal GDP. The Directorate-General of Budget, Accounting and Statistics, Executive Yuan provides Total Trade of Goods and Services in local currency and Nominal GDP in local currency. Total Trade of Goods and Services as % of Nominal GDP prior to Q1 1981 is calculated from Total Trade of Goods and Services with reference year 2016.