Such fluctuations change a country's ranking from one year to the next, even though they often make little or no difference to the standard of living of its population. ), Cultural Politics of Gender and Sexuality in Contemporary Asia (pp.

[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. In 2018, Taiwan exported 12.2 million metric tons of steel, a one percent increase from 12.0 million metric tons in 2017. [118] Indonesia and Malaysia supply most of Taiwan's natural gas needs. Accessed November 03, 2020. https://www.statista.com/statistics/727592/gross-domestic-product-gdp-per-capita-in-taiwan/, IMF. On the external front, exports of goods and services contracted 3.5% in Q2, marking the worst figure since Q1 2016 (Q1: -2.4% yoy). +1 (212) 419-5770 The electronics sector is Taiwan's most important industrial export sector and is the largest recipient of United States investment. Textiles are another major industrial export sector, though of declining importance due to labor shortages, increasing overhead costs, land prices, and environmental protection.[64]. [52][53] Taiwan has the world's lowest fertility rate and high housing prices. ", http://www.jstor.org/stable/j.ctvvn5tw.16, "Taiwan's Chip Plants Left Idle by Earthquake", "LSI's China Plan Changed by Taiwan Election", "An introduction to the Hsinchu Science Park", "Taiwan top-3 science parks to generate revenues of NT$2.45 trillion in 2011", Myanmar’s Overlooked Industry Opportunities and Investment Climate, Statistical Information Network of the Republic of China, Research Center for Taiwan Economic Development, Council for Economic Planning and Development, Taiwan Capitalization Weighted Stock Index, Trade-Related Aspects of Intellectual Property Rights, Special administrative regions of the People's Republic of China, https://en.wikipedia.org/w/index.php?title=Economy_of_Taiwan&oldid=986424925, World Trade Organization member economies, All Wikipedia articles written in American English, Articles containing potentially dated statements from 2013, All articles containing potentially dated statements, Articles with Chinese-language sources (zh), Articles with dead external links from August 2019, Articles with permanently dead external links, Creative Commons Attribution-ShareAlike License, semiconductors, petrochemicals, automobile/auto parts, ships, wireless communication equipment, flat display displays, steel, electronics, plastics, computers, oil/petroleum, semiconductors, natural gas, coal, steel, computers, wireless communication equipment, automobiles, fine chemicals, textiles. [73] The newly signed agreement will allow for more than 500 products made in Taiwan to enter mainland China at low or no tariffs. [154], The Linhai Industrial Park, established in Kaohsiung in 1960,[155] is a well-developed industrial zone with over 490 companies focusing on other industries including base metals, machinery and repairs, nonmetallic mineral products, chemical products, and food and beverage manufacturing.

"Unemployment and the Government's Role in a Risk Society: A Case Study in Taiwan". [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. [23] Between 1952 and 1961, the economy grew by an average of 9.21% each year.[23]. [134] The right to strike and collective bargaining were also hamstrung by law. [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. [134] The Collective Bargaining Agreement Act in 2008 guaranteed trade unions the power to negotiate with employers. - Statistics of Economic", "Downloads - 2013 - White Paper - AmCham - American Chamber of Commerce in Taipei - 臺北市美國商會", "Asia Pacific Indirect Tax Country Guide", "Mastercard : 2014 Global Destination Cities Index", "Jobless rate falls to 2-year low in November", "Taiwan's jobless rate drops to 40-month low in December", "Regular salary up for 12 consecutive months", "November industrial production index hits fresh high", "Taiwan retail sales forecast to hit record high this year", "Taiwan's Economic Growth to Reach 5% in 2011: the World Bank", "Taiwan economy remains sluggish in May amid global trade war", "Tablets, Internet-linked Smart Sensors to Star at Computex", "Computex show draws over 23,300 foreign buyers", "East Asia/Southeast Asia :: Taiwan - The World Factbook", "Asian Development Outlook (ADO) 2020: What Drives Innovation in Asia? [135] The Collective Bargaining Agreement in 1930 stipulated that collective bargains were not legally valid without government approval. [91][94] From ITRI's first 3-inch wafer fabrication plant built in 1977[91] and the founding of UMC in 1980,[95] the industry has developed into a world leader with 40 fabs in operation by 2002. In Zheng T. Taiwan's 2002 trade surplus with the United States was $8.70 billion.

This was chiefly driven by a collapse in tourist arrival and came despite healthy global demand for electronics which softened the blow. Export composition changed from predominantly agricultural commodities to industrial goods (now 98%). Are you interested in testing our corporate solutions? Fen-ling Chen.

[130] Taiwan is one of the largest fishing nations on earth and the associated fish processing industry is also significant.[131]. Private Taiwanese investment in mainland China is estimated to total in excess of US$150 billion,[19] and official tallies cite Taiwan as having invested a comparable amount in Southeast Asia.

[85] In 2010, Taiwan's software market grew by 7.1% to reach a value of US$4 billion, accounting for 3.3% of the Asia-Pacific region market value.



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