- Capital City: Taipei
- General Information Official Language: Mandarin
- Currency: New Taiwan Dollar / (NT$ ), (NTD$)
- Population (2024): 23.17 million (2024)
Political Overview
Government Type
Democracy, Unitary state, Constitutional republic, Semi-presidential system
Key Leaders
- President – Lai Ching-te
- Premier – Cho Jung-tai
Political Stability Index
0.8 (2022)
International Alliances
- ASEAN, APEC, ABD, EBRD, CERN, IAEA, ICC, ILO, IMO, IMF, OECD, OPEC, UNICEF, UNCTAD, UNPO, WB (Covered separately in private sector section), WEF, WTO
Economic Overview
GDP (Nominal)
$791.61 billion (Taiwan)
GDP (PPP)
$1.77 trillion (2024)
Key Industries
- Technology & Electronics
- Manufacturing
- Services
- Agriculture
Top 5 Importers/Exporters
2024, top trading partners are China, U.S., ASEAN, Hong Kong, Singapore and Japan.
Taiwan’s top export partners are: Mainland China and Hong Kong (40% of total), ASEAN countries (18.3%), USA (12%), Europe (9%), and Japan (7%) Electronics (33.1%), Information, communication, and audio-video products (10.8%), Base metals ( 8.8% ), Plastics and rubber (7.1%), Machinery (7.5%).
Imports are electronic products (18.2% of total), mineral products (15.2%), machinery (12.4%), chemicals (10.8%) and base metals (7.3%). Main import partners are Mainland China & Hong Kong (19.6% of total), Japan (17.6%), Europe (12.6%), USA (12.4%), ASEAN countries (11.8%) and Middle East (7.7%)
Social Indicators
Human Development Index
Not included by the UNDP. Taiwan’s Statistical Bureau calculated its 2022 HDI to be 0.925, which would place it at 24th globally in the 2024 UNDP report.
Literacy Rate
98.5% (99.7% of males and 97.3% of females)
Life Expectancy
81.21 years (2024)
Geopolitical Relevance
Strategic Location
Lies in the Taiwan Strait (one of the world’s busiest maritime shipping lanes), southeastern coast of mainland China, geographic position influences control over sea lanes critical for international trade in the Pacific region
Key Conflicts
Taiwan Strait with China, Diplomatic isolation (not considered as sovereign state by many, claimed by China to be a part of its territory)
Border Issues
Taiwan-China (claimed by China as part of its territory. The Taiwan Strait remains a geopolitical fault line), Taiwan-Philippines Maritime Dispute (Scarborough Shoal and other outcroppings in the South China Sea)
Military Strength
2023 – armed forces estimate – between 169,000 and 180,000 active personnel and reserves at 1.65 million. Proposed overall defence spending of $19.1 billion for 2024. No formal military alliances, but backed by the U.S. through Taiwan Relations Act
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