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 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.

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.

Leading Economic Index Taiwan increased to 101.73 in May of 2025 over the same month in the previous year. This dataset provides - Taiwan Leading Composite Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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 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.

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.

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.

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.

The latest data from show economic growth of 5.48 percent, which is an increase from the rate of growth of 3.82 percent in the previous quarter and
a decrease compared to the growth rate of 6.64 percent in the same quarter last year. The economic growth time series for Taiwan cover the period...

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

GDP from Agriculture in Taiwan decreased to 66027 TWD Million in the first quarter of 2025 from 69434 TWD Million in the fourth quarter of 2024. This dataset provides - Taiwan Gdp From Agriculture- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Exports in Taiwan increased to 53323.32 USD Million in June from 51742.86 USD Million in May of 2025. This dataset provides - Taiwan Exports - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Taiwan: Economic growth forecast: The latest value from 2030 is 2.08 percent, a decline from 2.24 percent in 2029. In comparison, the world average is 3.25 percent, based on data from 182 countries. Historically, the average for Taiwan from 1980 to 2030 is 5.12 percent. The minimum value, -1.61 percent, was reached in 2009 while the maximum of 12.75 percent was recorded in 1987.

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.

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.

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</ul>GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.