| Introduction - Taiwan: |
| Location - Taiwan: |
| People - Taiwan: |
| Government - Taiwan: |
| Economy - Taiwan: |
Economy overview | Taiwan has a dynamic capitalist economy with gradually decreasing guidance of investment and foreign trade by government authorities. In keeping with this trend, some large, government-owned banks and industrial firms are being privatized. Exports have provided the primary impetus for industrialization. The island runs a trade surplus, and foreign reserves are the worlds third largest. Despite restrictions on cross-strait links, China has overtaken the US to become Taiwans largest export market and, in 2006, its second-largest source of imports after Japan. China is also the islands number one destination for foreign direct investment. Strong trade performance in 2006 pushed Taiwans GDP growth rate above 4%, and unemployment is below 4%. Consumer spending recovered following a slowdown early in 2006, when banks tightened lending to address a sharp increase in delinquent consumer debt. |
|
Gdp purchasing power parity | $680.5 billion (2006 est.) |
|
Gdp official exchange rate | $346.4 billion (2006 est.) |
|
Gdp real growth rate | 4.6% (2006 est.) |
|
Gdp per capita ppp | $29,500 (2006 est.) |
|
Gdp composition by sector | agriculture: 1.5%
industry: 25.2%
services: 73.3% (2006 est.) |
|
Labor force | 10.46 million (2006 est.) |
|
Labor force by occupation | agriculture: 5.5%
industry: 36%
services: 58.5% (2005 est.) |
|
Unemployment rate | 3.9% (2006 est.) |
|
Population below poverty line | 0.9% (2006 est.) |
|
Household income or consumption by percentage share | lowest 10%: 6.7%
highest 10%: 41.1% (2002 est.) |
|
Inflation rate consumer prices | 1% (2006 est.) |
|
Investment gross fixed | 18.4% of GDP (2006 est.) |
|
Budget | revenues: $67.33 billion
expenditures: $77.93 billion (2006 est.) |
|
Public debt | 34.6% of GDP (2006 est.) |
|
Agriculture products | rice, corn, vegetables, fruit, tea; pigs, poultry, beef, milk; fish |
|
Industries | electronics, petroleum refining, armaments, chemicals, textiles, iron and steel, machinery, cement, food processing, vehicles, consumer products, pharmaceuticals |
|
Industrial production growth rate | 6.5% (2006 est.) |
|
Electricity production | 189.7 billion kWh (2005) |
|
Electricity consumption | 175.3 billion kWh (2005) |
|
Electricity exports | 0 kWh (2005) |
|
Electricity imports | 0 kWh (2005) |
|
Oil production | 7,755 bbl/day (2004 est.) |
|
Oil consumption | 965,000 bbl/day (2004 est.) |
|
Oil exports | NA bbl/day |
|
Oil imports | NA bbl/day |
|
Oil proved reserves | 4 million bbl (1 January 2005 est.) |
|
Natural gas production | 1.1 billion cu m (2005 est.) |
|
Natural gas consumption | 10.7 billion cu m (2005 est.) |
|
Natural gas exports | 0 cu m (2005) |
|
Natural gas imports | 9.6 billion cu m (2005 est.) |
|
Natural gas proved reserves | 76.46 billion cu m (1 January 2005 est.) |
|
Current account balance | $9.7 billion (2006 est.) |
|
Exports | $215 billion f.o.b. (2006 est.) |
|
Exports commodities | computer products and electrical equipment, metals, textiles, plastics and rubber products, chemicals (2002) |
|
Exports partners | China 22.5%, Hong Kong 15.7%, US 15%, Japan 7.3% (2006 est.) |
|
Imports | $205.3 billion f.o.b. (2006 est.) |
|
Imports commodities | machinery and electrical equipment 44.5%, minerals, precision instruments (2002) |
|
Imports partners | Japan 23%, China 11.9%, US 10.9%, South Korea 7.2%, Saudi Arabia 4.9% (2006 est.) |
|
Reserves of foreign exchange and gold | $280.6 billion (2006 est.) |
|
Debt external | $93.06 billion (2006 est.) |
|
Currency code | new Taiwan dollar (TWD) |
|
Exchange rates | new Taiwan dollars per US dollar - 32.534 (2006), 31.71 (2005), 34.418 (2004), 34.575 (2003), 33.8 (2002) |
|
| Communications - Taiwan: |
| Transportation - Taiwan: |
| Military - Taiwan: |
This page was last updated on 16 September, 2007
