promoting innovation, increasing employment and ensuring the the economic pacts with New Zealand and Singapore as well as the ECAs are expected to facilitate the country’s participation in [135] The amendments to the Labor Union Laws and Collective Bargaining Agreement both became effective in the early 21st century. Taiwan has exported large amounts of frozen pork, although this was affected by an outbreak of hoof and mouth disease in 1997. [14] Taiwan is the most technologically advanced computer microchip maker in the world.[15][16][17][18]. [62], Taiwan is the world's largest supplier of contract computer chip manufacturing (foundry services) and is a leading LCD panel manufacturer,[63] DRAM computer memory, networking equipment, and consumer electronics designer and manufacturer. Our Insights blog presents deep data-driven analysis and visual content on important global issues from the expert data team at Knoema. 2018. Unlimited access tailored to your data needs, Instant access to full history data in excel. Its economy faced a downturn in 2009 due to a heavy reliance on exports which in turn made it vulnerable to world markets. © 2020 CEIC Data, an ISI Emerging Markets Group Company. Please create an employee account to be able to mark statistics as favorites. [121] The government also announced plans to invest US$838 million for renewable energy promotion and an additional US$635 million for research and development. Please do not hesitate to contact me. Chart. In 2018, the US imported 300,000 metric tons of pipe and tube product. Unit, have ranked Taiwan among the top nations year after [24] Because of the financial policy[25] by the Central Bank of the Republic of China (Taiwan) and the entrepreneurial strengths,[26] Taiwan suffered from the financial crisis of 1997-1999 compared to other economies in the region. through initiatives such as the New Southbound Policy, which The "e-Taiwan" project launched by the government seeks to use US$1.83 billion to improve the information and communications infrastructure in Taiwan in five major areas: government, life, business, transport, and broadband. The situation has improved [123] The government has already built 155 sets of wind turbines capable of producing 281.6 MW of energy, and additional projects are planned or under construction. According to a preliminary reading, GDP dropped 0.6% year-on-year in the second quarter, contrasting the 2.2% expansion tallied in the first quarter. infrastructure, aquatic environments, food safety, green energy, [146] In addition to companies, several research institutes (including Academia Sinica) and universities have set up branches within the park with a focus on integrated circuits (ICs), optoelectronics, and biotechnology. The digital content production industry grew by 15% in 2009, reaching US$14.03 billion. Are you interested in testing our corporate solutions? Knoema is the most comprehensive source of global decision-making data in the world. [125], Taiwan is the fourth largest exporter of machine tools and machine tool components in the world. [110] It contributes 3% to GDP and the service sector makes up 73% of the economy. Curated by Knoema’s data analysts to deliver leading short-term and long-term indicators and forecasts from trusted sources for each of the covered industries. Both agreements go beyond [134] The Collective Bargaining Agreement Act in 2008 guaranteed trade unions the power to negotiate with employers. Taiwan also signed free trade pact with Singapore and New Zealand. Taiwan's economy remains export-oriented, thus it depends on an open world trade regime and remains vulnerable to downturns in the world economy. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. Confirmed and recovered cases, deaths, alternative data on economic activities, customer behavior, supply chains, and more. The government is also promoting the Forward-looking urban-rural development, boosting birthrates and child care [135] A number of autonomous, non-official trade unions emerged, including the Taiwan Confederation of Trade Unions (TCTU) which acquired legal recognition in 2000. Taiwan is well connected to the global undersea fiber optic cable network and serves as a substantial traffic interchange. This seeks to boost growth by The volume of Taiwan's 2018 steel exports was one-sixth that of the world's largest exporter, China, and nearly one-third that of the second-largest exporter, Japan. NOTE: The information regarding GDP - per capita (PPP) on this page is re-published from the CIA World Factbook 2018. In: Everyday Gender at Work in Taiwan. As a Premium user you get access to background information and details about the release of this statistic. [138], Active labor market policies were carried out in Taiwan in the late 20th and early 21st centuries, as a result of economic structural changes caused by globalization and deindustrialization. Top-quality textiles are among the numerous products across the industrial spectrum that Taiwan exports around the world. [36] The stimulus package focused on infrastructure development, small and medium-sized businesses, tax breaks for new investments, and low-income households. such regional economic integration blocs as the Comprehensive The United States is Taiwan's third largest trading partner, taking 11.4% of Taiwanese exports and supplying 10.0% of its imports. and over 1 Mio. National Bureau of Statistics of China. Gross Domestic Product of Taiwan grew 2.7% in 2018 compared to last year. In July 2013, Taiwan signed an economic cooperation [98][99] The international industrial forecast of semiconductor manufacturing, which is the flagship industry of the economy of Taiwan that faces immense competition ahead with its American counterparts. [116] Taiwan's energy consumption is dominated by crude oil & petroleum products (48.52%), followed by coal (29.2%), natural gas (12.23%), nuclear power (8.33%), and hydroelectric power (0.28%). [119], Although Taiwan's per capita energy use is on par with neighboring Asian countries,[120] in July 2005 the Ministry of Economic Affairs announced plans to cut 170 million-tons of carbon dioxide emissions by 2025. Organization for Economic Cooperation and Development. since 2016, and statistics indicate that in 2018 Taiwan’s overall Per capita gross national product (GNP) of Taiwan from 2008 to 2018 (in U.S. dollars) This results in human resource talents seeking career opportunities elsewhere. You need at least a Single Account to use this feature. Fen-ling Chen. National Bureau of Statistics of China. Also, only one union can exist within each company or geographical area. [141], Taiwan's GDP per capita in December 1984 was below US$5,000 before reaching US$25,026 by December 2018, an all-time high. [148], Following the success of the first park, the Southern Taiwan Science Park (STSP), consisting of the Tainan Science Park and the Kaohsiung Science Park, was established in 1996. [46] After 10.5% economic growth in 2010, the World Bank expected growth to continue and reach 5% for 2011. Industrial output has gradually decreased from accounting for over half of Taiwan's GDP in 1986 to just 31% in 2002.

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