The gross domestic product (GDP) per capita in Taiwan stood at about 33.44 thousand U.S. dollars in 2024. Between 1980 and 2024, the GDP per capita rose by approximately 31.07 thousand U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The GDP per capita will steadily rise by around 7.80 thousand U.S. dollars over the period from 2024 to 2030, reflecting a clear 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 rates and then divided by the total population. The gross domestic product 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).

Taiwan GDP: Per Capita data was reported at 1,091,374.000 NTD in 2024. This records an increase from the previous number of 1,010,890.000 NTD for 2023. Taiwan GDP: Per Capita data is updated yearly, averaging 176,378.000 NTD from Dec 1951 (Median) to 2024, with 74 observations. The data reached an all-time high of 1,091,374.000 NTD in 2024 and a record low of 1,589.000 NTD in 1951. Taiwan GDP: Per Capita 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.AA003: SNA 08: Reference Year=2021: GDP: by Expenditure: Current Price (Annual).

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, 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.

Taiwan GDP per Capita: USD data was reported at 33,983.000 USD in 2024. This records an increase from the previous number of 32,442.000 USD for 2023. Taiwan GDP per Capita: USD data is updated yearly, averaging 5,860.000 USD from Dec 1951 (Median) to 2024, with 74 observations. The data reached an all-time high of 33,983.000 USD in 2024 and a record low of 140.000 USD in 1959. Taiwan GDP per Capita: USD 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.AA003: SNA 08: Reference Year=2021: GDP: by Expenditure: Current Price (Annual).

The gross domestic product (GDP) per capita in South Korea was forecast to continuously increase between 2024 and 2030 by in total 5,762.76 U.S. dollars (+15.95 percent). After the seventh consecutive increasing year, the GDP per capita is estimated to reach 41,891.75 U.S. dollars and therefore a new peak in 2030. 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 Mongolia, Japan, and Taiwan.

Key information about Taiwan Private Consumption: % of GDP

• Taiwan Private Consumption accounted for 45.8 % of its Nominal GDP in Dec 2024, compared with a ratio of 47.1 % in the previous quarter.
• Taiwan Private Consumption contribution to Nominal GDP ratio is updated quarterly, available from Mar 1961 to Dec 2024, with an average share of 53.5 %.
• The data reached an all-time high of 73.9 % in Mar 1962 and a record low of 43.6 % in Jun 1987.

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


Related information about Taiwan Private Consumption: % of GDP

• 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.

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 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.

In 2024, the ratio of government expenditure to GDP in Taiwan was estimated at about 17.55 percent. Between 1980 and 2024, the figure dropped by approximately 7.25 percentage points, though the decline followed an uneven course rather than a steady trajectory. The forecast shows the ratio will steadily grow by around 2.22 percentage points from 2024 to 2030.Shown here is the general government expenditure as a share of the national gross domestic product. As defined by the International Monetary Fund, the general government expenditure consists of total expense and the net acquisition of nonfinancial assets. The gross domestic product represents the total value of final goods and services produced during a year.

Key information about Taiwan Household Income per Capita

• Taiwan Annual Household Income per Capita reached 16,605.530 USD in Dec 2023, compared with the previous value of 16,714.808 USD in Dec 2022.
• Taiwan Annual Household Income per Capita data is updated yearly, available from Dec 1984 to Dec 2023, with an averaged value of 9,995.654 USD.
• The data reached an all-time high of 17,102.731 USD in Dec 2021 and a record low of 1,969.348 USD in Dec 1984.
• In the latest reports, Retail Sales of Taiwan grew 1.668 % YoY in Feb 2022.

CEIC calculates Annual Household Income per Capita from annual Average Household Income and Average Household Size and converts it into USD. The Directorate-General of Budget, Accounting and Statistics, Executive Yuan provides Average Household Income in local currency and Average Household Size. Federal Reserve Board average market exchange rate is used for currency conversions.

Gross Domestic Product (GDP) data was reported at 25,549,820.000 NTD mn in 2024. This records an increase from the previous number of 23,596,734.000 NTD mn for 2023. Gross Domestic Product (GDP) data is updated yearly, averaging 10,777,470.000 NTD mn from Dec 1981 (Median) to 2024, with 44 observations. The data reached an all-time high of 25,549,820.000 NTD mn in 2024 and a record low of 1,804,431.000 NTD mn in 1981. Gross Domestic Product (GDP) 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.AA003: SNA 08: Reference Year=2021: GDP: by Expenditure: Current Price (Annual).

Key information about Taiwan Government Debt: % of GDP

• Taiwan Government debt accounted for 29.0 % of the country's Nominal GDP in Dec 2023, compared with the ratio of 29.5 % in the previous year.
• Taiwan government debt to GDP ratio data is updated yearly, available from Dec 1996 to Dec 2023.
• The data reached an all-time high of 39.2 % in Dec 2012 and a record low of 23.7 % in Dec 1998.

CEIC calculates Government Debt as % of Nominal GDP from annual Government Debt and annual Nominal GDP. The Ministry of Finance provides Government Debt in local currency. The Directorate-General of Budget, Accounting and Statistics, Executive Yuan provides Nominal GDP in local currency. Government Debt covers Non Self-Redeeming Debt with Maturity of One Year and Above.


Related information about Taiwan Government Debt: % of GDP

• In the latest reports, Taiwan National Government Debt reached 223.8 USD bn in Dec 2023.
• The country's Nominal GDP reached 185.2 USD bn in Mar 2023.

Taiwan GDP: Domestic Demand: GCF: Gross Fixed Capital Formation (GFCF) data was reported at 1,772,919.000 NTD mn in Dec 2024. This records an increase from the previous number of 1,587,492.000 NTD mn for Sep 2024. Taiwan GDP: Domestic Demand: GCF: Gross Fixed Capital Formation (GFCF) data is updated quarterly, averaging 647,608.000 NTD mn from Mar 1981 (Median) to Dec 2024, with 176 observations. The data reached an all-time high of 1,772,919.000 NTD mn in Dec 2024 and a record low of 108,967.000 NTD mn in Mar 1983. Taiwan GDP: Domestic Demand: GCF: Gross Fixed Capital Formation (GFCF) 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.AA001: SNA 08: Reference Year=2021: GDP: by Expenditure: Current Price.

Taiwan GDP: 2021p: DD: GCF: Gross Fixed Capital Formation data was reported at 1,637,528.000 NTD mn in Dec 2024. This records an increase from the previous number of 1,445,405.000 NTD mn for Sep 2024. Taiwan GDP: 2021p: DD: GCF: Gross Fixed Capital Formation data is updated quarterly, averaging 816,163.500 NTD mn from Mar 1981 (Median) to Dec 2024, with 176 observations. The data reached an all-time high of 1,659,385.000 NTD mn in Dec 2022 and a record low of 175,283.000 NTD mn in Mar 1983. Taiwan GDP: 2021p: DD: GCF: Gross Fixed Capital Formation 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.AA008: SNA 08: Reference Year=2021: GDP: by Expenditure: Chain Linked.

Key information about Taiwan Gross Fixed Capital Formation

• Taiwan Gross Fixed Capital Formation was reported at 54.821 USD bn in Dec 2024.
• This records an increase from the previous number of 49.180 USD bn for Sep 2024.
• Taiwan Gross Fixed Capital Formation data is updated quarterly, averaging 21.281 USD bn from Dec 1983 to Dec 2024, with 165 observations.
• The data reached an all-time high of 56.563 USD bn in Dec 2021 and a record low of 2.957 USD bn in Mar 1984.
• Taiwan Gross Fixed Capital Formation 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: Gross Fixed Capital Formation: USD: Quarterly.

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

******* had the highest level of the Human Development Index (HDI) worldwide in 2023 with a value of *****. With a score of ****, ****** followed closely behind *********** and had the second-highest level of human development in that year. The rise of the Asian tigers In the decades after the Cold War, the four so-called Asian tigers, South Korea, Singapore, Taiwan, and Hong Kong (now a Special Administrative Region of China) experienced rapid economic growth and increasing human development. At number eight and number 13 of the HDI, respectively, *********************** are the only Asian locations within the top-15 highest HDI scores. Both locations have experienced tremendous economic growth since the 1980’s and 1990’s. In 1980, the per capita GDP of Hong Kong was ***** U.S. dollars, increasing throughout the decades until reaching ****** in 2023, which is expected to continue to increase in the future. Meanwhile, in 1989, Singapore had a GDP of nearly ** billion U.S. dollars, which has risen to nearly *** billion U.S. dollars today and is also expected to keep increasing. Growth of the UAE The United Arab Emirates (UAE) is the only Middle Eastern country besides Israel within the highest ranking HDI scores globally. Within the Middle East and North Africa (MENA) region, the UAE has the third-largest GDP behind Saudi Arabia and Israel, reaching nearly *** billion U.S. dollars by 2022. Per capita, the UAE GDP was around ****** U.S. dollars in 1989, and has nearly doubled to ****** U.S. dollars by 2021. Moreover, this is expected to reach over ****** U.S. dollars by 2029. On top of being a major oil producer, the UAE has become a hub for finance and business and attracts millions of tourists annually.

GDP: 2021p: DD: GCF: Gross Fixed Capital Formation (GFCF) data was reported at 5,979,876.000 NTD mn in 2024. This records an increase from the previous number of 5,678,797.000 NTD mn for 2023. GDP: 2021p: DD: GCF: Gross Fixed Capital Formation (GFCF) data is updated yearly, averaging 3,263,276.000 NTD mn from Dec 1981 (Median) to 2024, with 44 observations. The data reached an all-time high of 6,156,558.000 NTD mn in 2022 and a record low of 823,262.000 NTD mn in 1981. GDP: 2021p: DD: GCF: Gross Fixed Capital Formation (GFCF) 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.AA010: SNA 08: Reference Year=2021: GDP: by Expenditure: Chain Linked (Annual).

Taiwan GDP: GFCF: Construction: Public Sector: General Government data was reported at 183,640.000 NTD mn in Dec 2024. This records an increase from the previous number of 129,903.000 NTD mn for Sep 2024. Taiwan GDP: GFCF: Construction: Public Sector: General Government data is updated quarterly, averaging 70,110.000 NTD mn from Mar 1966 (Median) to Dec 2024, with 236 observations. The data reached an all-time high of 183,640.000 NTD mn in Dec 2024 and a record low of 464.000 NTD mn in Mar 1966. Taiwan GDP: GFCF: Construction: Public Sector: General Government 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.AA025: SNA 08: Reference Year=2021: Gross Fixed Capital Formation: Current Price.

Taiwan GDP: GFCF: Construction: Public Sector: Public Enterprises data was reported at 33,966.000 NTD mn in Dec 2024. This records an increase from the previous number of 25,922.000 NTD mn for Sep 2024. Taiwan GDP: GFCF: Construction: Public Sector: Public Enterprises data is updated quarterly, averaging 7,852.000 NTD mn from Mar 1966 (Median) to Dec 2024, with 236 observations. The data reached an all-time high of 35,856.000 NTD mn in Dec 2023 and a record low of 159.000 NTD mn in Mar 1966. Taiwan GDP: GFCF: Construction: Public Sector: Public Enterprises 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.AA025: SNA 08: Reference Year=2021: Gross Fixed Capital Formation: Current Price.