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.

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 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.

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.

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.

• 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 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.

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.

During the fourth quarter of 2024, the GDP in Taiwan increased by about 1.8 percent compared to the same quarter of the previous year. GDP refers to the total market value of all goods and services that are produced within a country per quarter. It is an important indicator of the economic strength of a country.

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.

According to preliminary figures, Taiwan's gross domestic product (GDP) grew by around 4.6 percent in 2024. The manufacturing industry displayed a growth rate of approximately 7.7 percent.

Taiwan Real(GDP) Gross Domestic Productper Capita data was reported at 60,595.110 USD in 2023. This records an increase from the previous number of 59,497.990 USD for 2022. Taiwan Real(GDP) Gross Domestic Productper Capita data is updated yearly, averaging 36,533.245 USD from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 60,595.110 USD in 2023 and a record low of 16,071.240 USD in 1990. Taiwan Real(GDP) Gross Domestic Productper Capita 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.GGI: Governance: Economic Environment and Growth: Non OECD Member: Annual.

This statistic shows the annual growth in the gross domestic product (GDP) of Taiwan from 2014 to 2024, by economic sector. In 2024, Taiwan's value added of the industrial sector increased by about 7.2 percent compared to the previous year.

FocusEconomics' economic data is provided by official state statistical reporting agencies as well as our global network of leading banks, think tanks and consultancies. Our datasets provide not only historical data, but also Consensus Forecasts and individual forecasts from the aformentioned global network of economic analysts. This includes the latest forecasts as well as historical forecasts going back to 2010. Our global network consists of over 1000 world-renowned economic analysts from which we calculate our Consensus Forecasts. In this specific dataset you will find economic data for Taiwan GDP.

Taiwan Contribution to(GDP) Gross Domestic ProductGrowth: SV: Real Estate & Ownership of Dwelling data was reported at 0.080 % in Mar 2018. This records a decrease from the previous number of 0.090 % for Dec 2017. Taiwan Contribution to(GDP) Gross Domestic ProductGrowth: SV: Real Estate & Ownership of Dwelling data is updated quarterly, averaging 0.120 % from Mar 2011 (Median) to Mar 2018, with 29 observations. The data reached an all-time high of 0.370 % in Mar 2013 and a record low of -0.160 % in Mar 2012. Taiwan Contribution to(GDP) Gross Domestic ProductGrowth: SV: Real Estate & Ownership of Dwelling data remains active status in CEIC and is reported by Directorate-General of Budget, Accounting and Statistics, Executive Yuan. The data is categorized under Global Database’s Taiwan – Table TW.AA017: SNA 08: Reference Year=2011: GDP: by Industry: Chain Linked.

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.

Graph and download economic data for Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Taiwan (RGDPLPTWA625NUPN) from 1951 to 2010 about Taiwan, PPP, investment, per capita, consumption, government, GDP, and rate.

Taiwan Contribution to(GDP) Gross Domestic ProductGrowth: Industry: Construction data was reported at 0.070 % in Sep 2018. This records a decrease from the previous number of 0.090 % for Jun 2018. Taiwan Contribution to(GDP) Gross Domestic ProductGrowth: Industry: Construction data is updated quarterly, averaging -0.010 % from Mar 2011 (Median) to Sep 2018, with 31 observations. The data reached an all-time high of 0.180 % in Mar 2011 and a record low of -0.100 % in Dec 2011. Taiwan Contribution to(GDP) Gross Domestic ProductGrowth: Industry: Construction data remains active status in CEIC and is reported by Directorate-General of Budget, Accounting and Statistics, Executive Yuan. The data is categorized under Global Database’s Taiwan – Table TW.AA017: SNA 08: Reference Year=2011: GDP: by Industry: Chain Linked.

Taiwan: Economic growth forecast: Für diesen Indikator stellen wir Daten für Taiwan von 1980 bis 2028 bereit. Der durchschnittliche Wert für Taiwan in diesem Zeitraum lag bei 5.18 Prozent mit einem Minimum von -1.61 Prozent im Jahre 2009 und einem Maximum von 12.75 Prozent im Jahre 1987. Der neuste Wert aus dem Jahr 2028 liegt bei 2.51 Prozent. Zum Vergleich: Der Weltdurchschnitt im Jahr 2028, basierend auf 183 Ländern, liegt bei 3.37 Prozent.

The value of loans in Taiwan increased 9.72 percent in January of 2025 over the same month in the previous year. This dataset provides - Taiwan Loan Growth- actual values, historical data, forecast, chart, statistics, economic calendar and news.