Taiwan

  • Economy Overview

    Taipei, Taiwan

    Taiwan’s total land area is about 36,000 square kilometers (14,400 square miles). It is shaped like a leaf that is narrow at both ends. It lies off the southeastern coast of mainland Asia, across the Taiwan Strait from China – an island on the western edge of the Pacific Ocean. To the north is Japan; to the south is the Philippines. Many airlines fly to Taiwan, making it the perfect business hub and travel destination.
    Taiwan is ranked 5th out of 42 economies in the Asia–Pacific region, and its overall score is well above the world average. Taiwan has a dynamic capitalist economy with gradually decreasing government guidance of investment and foreign trade. Exports, led by electronics, machinery, and petrochemicals have provided the primary impetus for economic development.
    The Taiwan government has established 9 national parks and 13 national scenic areas to preserve Taiwan’s best natural ecological environment and cultural sites. There are various ways to discover the beauty of Taiwan. For example, trekking in the magnificence of the cliffs at Taroko Gorge; taking a ride on the Alishan Forest Railway and experiencing the breathtaking sunrise and sea of clouds; hiking up to the summit of Northeast Asia’s highest peak, Yu Mountain (Yushan). You can also soak up the sun in Kending (Kenting), Asia’s version of Hawaii; stand at the edge of Sun Moon Lake; wander through the East Rift Valley; or visit the offshore islands of Kinmen and Penghu. It’s fun in capital letters as well as an awesome journey of natural discovery!

  • General Information

    Economy name Taiwan
    Capital Taipei
    Area 35,882 km2
    Climate Subtropical
    Population 23 million
    Language Mandarin / Taiwanese / Hakka / Indigenous Languages
    Currency New Taiwan Dollar (TWD)

  • Economic Indicators

    (Unit: USD, 2014)
    GDP $487,327 million
    GDP per capita $22,228
    Economic Growth Rate 3.78%
    Total Exports 313,837 million
    Total Imports 274,229 million
    Trade Balance 39,608 million

    • ▣ Trade Information

  • Export and Import Tendency

    Taiwan’s main export markets are China, Hong Kong, United States of America, Singapore, and Japan.
    The country’s major export commodities are Mechanical appliances, base metal and base metal products, plastics and articles thereof, the chemical or Industry allied products, and mineral products.
    Taiwan’s main import markets are China, Japan, United States of America, South Korea, and Saudi Arabia.
    Major imports include Mechanical Appliances, Mineral Products, The Chemical or Industry Allied Products, Base Metal and Base Metal products, and Vehicles, Aircraft, Vessels and Associated Transport Equipment.

    (Unit: Million USD, %)
    Year Exports Rate of Change Import Rate of Change
    2014 313,837 2.7 274,229 1.6
    2013 305,441 1.4 269,897 -0.2
    2012 301,181 -2.3 270,437 -3.9
    2011 308,257 12.3 281,438 12
    2010 274,601 34.8 251,236 44.1
    Top 5 Export Items Mechanical appliances, base metal and base metal products, plastics and articles thereof, the chemical or Industry allied products, and mineral products
    Top 5 Import Items Mechanical appliances, mineral products, the chemical or Industry allied products, base metal and base metal products, and vehicles, aircraft, vessels and associated transport equipment
    Top 5 Export Partners China, Hong Kong, United States of America, Singapore, and Japan
    Top 5 Import Partners China, Japan, United States of America, South Korea, and Saudi Arabia

  • Duty and Customs Clearance

    Taiwan Customs and Excises – http://web.customs.gov.tw/

  • Trade Agreements

    Taiwan in FTA
    • Taiwan has developed the FTA cooperation with the below Countries
    • Free Trade Agreement Between The Republic of China and The Republic of Panama
    • Free Trade Agreement Between The Republic of China and The Republic of Guatemala
    • Free Trade Agreement Between The Republic of China (TAIWAN) and The Republic of Nicaragua
    • Free Trade Agreement Between The Republic of China (TAIWAN), The Republic of El Salvador and The Republic of onduras
    • Cross-Straits Economic Cooperation Framework Agreement
    • Enhancing EU-Taiwan economic and trade relations: Post-European elections 2014
    • Agreement between Singapore and the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu on Economic Partnership (ASTEP)
    • Agreement between New Zealand and the Separate Customs Territory of Taiwan, Penghu, Kinmen, and Matsu on Economic Cooperation (ANZTEC)

    • ▣ Related Organization Website

  • Related Government Agencies

  • Related Associations