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.

PDB (Produk Domestik Bruto) di Taiwan tumbuh 2,90 persen pada kuartal keempat tahun 2024 dibandingkan dengan kuartal yang sama tahun sebelumnya. Nilai saat ini, data historis, perkiraan, statistik, grafik dan kalender ekonomi - Taiwan - Pertumbuhan PDB (y-on-y).

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.

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.

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.

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.

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.

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.

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.

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.

The growth of the real gross domestic product (GDP) in Macao was forecast to continuously decrease between 2024 and 2029 by in total 7.6 percentage points. According to this forecast, in 2029, the growth will have decreased for the sixth consecutive year to 3.02 percent. As described by the International Monetary Fund, this indicator describes the annual change in the gross domestic product at constant prices. This is 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 Taiwan, China, and Hong Kong SAR China.

The gross domestic product (GDP) per capita in Taiwan was forecast to continuously increase between 2024 and 2029 by in total 7,768 U.S. dollars (+23.37 percent). After the sixth consecutive increasing year, the GDP per capita is estimated to reach 41,001.79 U.S. dollars and therefore a new peak in 2029. 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).Find more key insights for the gross domestic product (GDP) per capita in countries like Japan, China, and South Korea.

GDP from Agriculture in Taiwan decreased to 69434 TWD Million in the fourth quarter of 2024 from 69818 TWD Million in the third quarter of 2024. This dataset provides - Taiwan Gdp From Agriculture- actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

Taiwan Contribution to(GDP) Gross Domestic ProductGrowth: Ind: SI: Water Supply & Remediation Act data was reported at 0.010 % in Dec 2024. This records a decrease from the previous number of 0.020 % for Sep 2024. Taiwan Contribution to(GDP) Gross Domestic ProductGrowth: Ind: SI: Water Supply & Remediation Act data is updated quarterly, averaging 0.020 % from Mar 1983 (Median) to Dec 2024, with 168 observations. The data reached an all-time high of 0.110 % in Mar 1991 and a record low of -0.100 % in Dec 1995. Taiwan Contribution to(GDP) Gross Domestic ProductGrowth: Ind: SI: Water Supply & Remediation Act 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=2021: GDP: by Industry: Chain Linked.

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.

Key information about Taiwan Labour Productivity Growth

• Taiwan Labour Productivity dropped by 2.57 % YoY in Dec 2024, compared with a growth of 3.61 % in the previous quarter
• Taiwan Labour Productivity Growth data is updated quarterly, available from Mar 1979 to Dec 2024, averaging at 4.45 %
• The data reached an all-time high of 10.12 % in Mar 2010 and a record low of -7.77 % in Dec 2008

CEIC calculates Labour Productivity Growth from quarterly Real GDP and monthly Employment. The Directorate-General of Budget, Accounting and Statistics, Executive Yuan provides Real GDP in local currency, at chain linked 2021 prices, and Employment. Employment excludes foreign nationals working within the country. Labour Productivity Growth prior to Q1 1982 is calculated from Real GDP at chain linked 2016 prices

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.

Key information about Taiwan Domestic Credit Growth

• Taiwan Domestic Credit increased 8.2 % YoY in Jan 2025, compared with an increase of 8.2 % YoY in the previous month
• Taiwan Domestic Credit Growth YoY data is updated monthly
• It averaged 10.1 %, available from Jul 1962 to Jan 2025
• The data reached an all-time high of 48.8 % in Jun 1974 and a record low of -3.8 % in Jul 2002

CEIC calculates Domestic Credit Growth from monthly Domestic Credit. The Central Bank of the Republic of China provides Domestic Credit in local currency. Domestic Credit comprises gross claims on the central government.


Further information about Taiwan Domestic Credit Growth

• In the latest reports, Taiwan Domestic Credit reached 1,542.7 USD bn in Jan 2025
• Money Supply M2 in Taiwan increased to 1,959.8 USD bn YoY in Jan 2025
• Taiwan Foreign Exchange Reserves was measured at 577.6 USD bn in Jan 2025
• The Foreign Exchange Reserves equaled 20.1 Months of Import in Jan 2025
• The country's Non Performing Loans Ratio stood at 0.1 % in Dec 2024, compared with the ratio of 0.1 % in the previous month
• Household Debt of Taiwan reached 95.6 % in Dec 2023, accounting for 95.6 % of the country's Nominal GDP