Monday, March 4, 2019

Taiwan Economy


The population of Taiwan is 23.58 million with a land area of 13,974 square miles. Labor force was 12 million. Labor force by occupation agriculture 5%, industry 36%, services 59%. Inflation 1%. Unemployment 4%. Nominal per capita GDP was $25.534.

Nominal GDP was $602.67 billion.in 2018. GDP growth was 2.7%. GDP rank was 34th.GDP by sector was services 69.2%, industry 29.2%, agriculture 1.6%.

Main industries include electronics, communications and IT products, petrol refining, armaments, chemicals, textiles, iron, steel, cement, machinery, vehicles, consumer products, food processing, pharmaceuticals. Rice, corn vegetables, fruit, tea, poultry, pigs, beef, milk, coal, natural gas, limestone, marble. Ease of doing business 11th.

Exports $318 billion in electronics, flat panels, ships, machinery, metals, textiles, plastics, chemicals and petrochemicals sold to China 26%, Hong Kong 14%, US 12%, Japan 7%, EU 9%.

Imports $ 278 billion in electronics, machinery, oil, computers, metals and organic chemicals purchased from China 19%, Japan 18%, US 13%, EU 11%, South Korea 6%.

Government revenue $80 billion, spending $90 billion, External debt $150 billion


Norb Leahy, Dunwoody GA Tea Party Leader

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