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Taiwan:
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Other pages in this profile of Taiwan:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.
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Economy - overview |
Definition Taiwan has a dynamic capitalist economy with gradually decreasing guidance of investment and foreign trade by the authorities. In keeping with this trend, some large, state-owned banks and industrial firms are being privatized. Exports have provided the primary impetus for industrialization. The island runs a large trade surplus, and its foreign reserves are among the world's largest. Despite restrictions on cross-strait links, China has overtaken the US to become Taiwan's largest export market and its second-largest source of imports after Japan. China is also the island's number one destination for foreign direct investment. Strong trade performance in 2007 pushed Taiwan's GDP growth rate above 5%, and unemployment is below 4%. |
GDP (purchasing power parity) |
Definition - World rank and map $695.4 billion (2007 est.) |
GDP (official exchange rate) |
Definition $383.3 billion (2007 est.) |
GDP - real growth rate |
Definition - World rank and map 5.7% (2007 est.) |
GDP - per capita |
Definition - World rank and map $30,100 (2007 est.) |
GDP - composition by sector |
Definition agriculture: 1.4% industry: 27.5% services: 71.1% (2007 est.) |
Labor force |
Definition 10.78 million (2007 est.) |
Labor force - by occupation |
Definition agriculture: 5.3% industry: 36.8% services: 57.9% (2007 est.) |
Unemployment rate |
Definition - World rank and map 3.9% (2007 est.) |
Population below poverty line |
Definition 0.95% (2007 est.) |
Household income or consumption by percentage share |
Definition lowest 10%: 6.7% highest 10%: 41.1% (2002 est.) |
Inflation rate (consumer prices) |
Definition - World rank and map 1.8% (2007 est.) |
Investment (gross fixed) |
Definition - World rank and map 21.2% of GDP (2007 est.) |
Budget |
Definition revenues: $76.2 billion expenditures: $75.65 billion (2007 est.) |
Public debt |
Definition - World rank and map 27.9% of GDP (2007 est.) |
Agriculture - products |
Definition rice, corn, vegetables, fruit, tea; pigs, poultry, beef, milk; fish |
Industries |
Definition electronics, petroleum refining, armaments, chemicals, textiles, iron and steel, machinery, cement, food processing, vehicles, consumer products, pharmaceuticals |
Industrial production growth rate |
Definition - World rank and map 7.5% (2007 est.) |
Electricity - production |
Definition - World rank and map 235 billion kWh (2006) |
Electricity - consumption |
Definition - World rank and map 221 billion kWh (2006) |
Electricity - consumption per capita |
Definition - World rank and map 9,641.9 kWh (2006) |
Electricity - exports |
Definition 0 kWh (2007 est.) |
Electricity - imports |
Definition 0 kWh (2007) |
Oil - production |
Definition - World rank and map 406 bbl/day (2006 est.) |
Oil - consumption |
Definition - World rank and map 816,700 bbl/day (2006 est.) |
Oil - consumption per 1,000 people |
Definition - World rank and map 35.6 bbl/day (2006 est.) |
Oil - exports |
Definition - World rank and map 289,200 bbl/day (2006) |
Oil - imports |
Definition - World rank and map 1.208 million bbl/day (2006) |
Oil - proved reserves |
Definition - World rank and map 2.24 million bbl (1 January 2007 est.) |
Natural gas - production |
Definition - World rank and map 462.9 million cu m (2006) |
Natural gas - consumption |
Definition - World rank and map 10.28 billion cu m (2006) |
Natural gas - consumption per capita |
Definition - World rank and map 448 cu m (2006) |
Natural gas - exports |
Definition - World rank and map 0 cu m (2007) |
Natural gas - imports |
Definition - World rank and map 10.16 billion cu m (2006) |
Natural gas - proved reserves |
Definition - World rank and map 13.55 billion cu m (2007 est.) |
Current account balance |
Definition - World rank and map $31.7 billion (2007) |
Exports |
Definition - World rank and map $246.7 billion f.o.b. (2007 est.) |
Exports - commodities |
Definition electronic and electrical products, metals, textiles, plastics, chemicals, auto parts (2002) |
Exports - partners |
Definition China 32.3%, US 12.8%, Hong Kong 8.8%, Japan 6.4%, Singapore 5% (2007 est.) |
Imports |
Definition - World rank and map $219.3 billion f.o.b. (2007 est.) |
Imports - commodities |
Definition electronic and electrical products, machinery, petroleum, precision instruments, organic chemicals, metals (2002) |
Imports - partners |
Definition Japan 22.1%, US 13%, China 10.9%, South Korea 7.3%, Saudi Arabia 4.8%, Singapore 4.5% (2007 est.) |
Reserves of foreign exchange and gold |
Definition - World rank and map $274.7 billion (31 December 2007) |
Debt - external |
Definition - World rank and map $98.44 billion (31 December 2007) |
Stock of direct foreign investment - at home |
Definition $92.83 billion (2007) |
Stock of direct foreign investment - abroad |
Definition $108.9 billion (2007) |
Market value of publicly traded shares |
Definition $654 billion (28 December 2007) |
Currency (code) |
Definition New Taiwan dollar (TWD) |
Exchange rates |
Definition New Taiwan dollars per US dollar - 32.84 (2007), 32.534 (2006), 31.71 (2005), 34.418 (2004), 34.575 (2003) |
Fiscal year |
Definition calendar year |
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