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CompareEconomy.com Comparison of world economies

Taiwan

World Rank Taiwan flag svg
Capital
Area
Currency
Taipei
36,197 km 2
New Taiwan dollar (TWD)

Table of Contents

Introduction

Taiwan is officially known as the Republic of China and it is the neighbor of the People's Republic of China, Japan, and the Philippines. As we can guess, Taiwan is a country located in East Asia, which land consists mostly of the main island of Taiwan. The entire land coverage of the land is approximately 36,000, making it an incredibly small nation with a relatively large population.

Taiwan is a unitary semi-presidential constitutional republic with the head of the nation being President Tasi In-wen. The Vice President is Lai Ching-te. Also, other important personas for the management of the nation is Premier Su Tseng-chang.

In spite of its miniature size, the country is heavily based on export and its economy has been on the drastic rise since the 1960s. As a result, it is a very wealthy country, especially if we take into account GDP per capita.

Economy

According to the latest data collected in 2020, the GDP PPP of the entire nation gave them 21st position in the worldwide rankings. It was $1.276 trillion. As a result, it is the 7th largest economy in East Asia and Pacific.

Interestingly, its GDP per capita is much larger than in most of the places around East Asia and Pacific. $54,000 on average for every Taiwaneese gives them 15th highest place in the GDP per capita (including PPP factor) in the world. As you can guess, such a large value also gives them very high, because 5th place in Asia right after Hong Kong SAR, and before Australia.

We should also bear in mind that from the introduction of Ten Major Construction Projects in 1974, the country became a very export-driven nation that makes a lot of its GDP as a result of numerous trading partnerships around the world.

Population

For such a small country, Taiwan is definitely very densely populated. Their population is around 23.5 million according to the data gathered in 2020. Although it is only 56th position in the worldwide rankings, the density is incredible here. 650 Taiwanese per square kilometer gives them 10th in density rankings.

In terms of ethnic groups, 95% of people consider themselves as Han Chinese, which are the immigrants from the former Quing China empire. In terms of religion, the two biggest groups are Buddhists and Taoists.

Gross domestic product (GDP, GDP PPP)

Gross domestic product (GDP)

  • Last
  • Historical chart
- US$

List of countries by GDP

(United States of America (USA))

Gross domestic product growth rate

Gross domestic product per capita

Gross domestic product (PPP)

Gross domestic product (PPP) per capita

International trade (Export, Import)

External balance on goods and services

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  • Historical chart
- US$

List of countries by external balance on goods and services

(China)

External balance on goods and services (% of GDP)

Exports of goods and services (current US$)

Exports of goods and services (% of GDP)

Imports of goods and services (current US$)

Imports of goods and services (% of GDP)

Employment by sector, Unemployment

Unemployment (% of total labor force)

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  • Historical chart
- %

List of countries by unemployment

(South Africa)

Employment in agriculture (% of total employment)

Employment in industry (% of total employment)

Employment in services (% of total employment)

Vulnerable employment (% of total employment)