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.

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.

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.

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.

Key information about Taiwan Nominal GDP Growth

• Taiwan Nominal GDP Growth was reported at 5.631 % in Dec 2024.
• This records a decrease from the previous number of 6.712 % for Sep 2024.
• Taiwan Nominal GDP Growth data is updated quarterly, averaging 6.302 % from Mar 1983 to Dec 2024, with 168 observations.
• The data reached an all-time high of 19.561 % in Dec 1986 and a record low of -8.514 % in Dec 2008.
• Taiwan Nominal GDP Growth data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Y-o-Y Growth: Quarterly: Seasonally Adjusted.

CEIC calculates quarterly Nominal GDP Growth from quarterly Nominal GDP. The Directorate-General of Budget, Accounting and Statistics, Executive Yuan provides Nominal GDP in local currency.

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.

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.

During the first quarter of 2025, the GDP in Taiwan increased by about *** 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.

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...

Key information about Taiwan GDP Deflator Growth

• Taiwan GDP deflator (implicit price deflator) increased 0.5 % in Mar 2023, compared with an increase of 1.2 % in the previous quarter.
• Taiwan GDP Deflator Growth data is updated quarterly, available from Mar 1962 to Mar 2023, with an average rate of 1.8 %.
• The data reached an all-time high of 40.9 % in Jun 1974 and a record low of -4.8 % in Sep 2008.

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


Related information about Taiwan GDP Deflator Growth

• In the latest reports, Taiwan GDP contracted 2.5 % YoY in Mar 2023.
• Its Nominal GDP reached 185.2 USD bn 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.

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.

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.

GDP Deflator in Taiwan increased to 111.78 points in the first quarter of 2025 from 108.72 points in the fourth quarter of 2024. This dataset provides - Taiwan GDP Deflator - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

GDP from Manufacturing in Taiwan decreased to 2008548 TWD Million in the first quarter of 2025 from 2087136 TWD Million in the fourth quarter of 2024. This dataset provides - Taiwan Gdp From Manufacturing- 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.

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.