In 2020, Taiwan’s gross domestic product amounted to around 668.16 billion U.S. dollars. Gross domestic product (GDP) denotes the aggregate value of all services and goods produced within a country in any given year. Taiwan’s GDP is projected to reach 1,048.52 billion U.S. dollars by 2026. Taiwan has the largest economy of any nation not a member of the United Nations (UN).
Analyzing Taiwan’s economy
Taiwan’s services sector generates the highest share of its GDP, at around 62 percent, though its industry sector also contributes about 35 percent to overall GDP in Taiwan. During the last decade, Taiwan has consistently held a trade surplus, and is known for its exports of electronics, machinery, and petrochemicals.
Taiwan’s population
Taiwan is a densely populated state, with a total population of about 23 million people, most of whom are between the ages of 15-64 years. Many members of the population are working; the unemployment rate was at only 3.8 percent in 2017. As one of the world’s technology hardware centers, Taiwan’s work force is comprised of high-skilled workers capable of navigating new technologies, such as artificial intelligence and blockchain.
Taiwan: Gross domestic product (GDP) in current prices from 1986 to 2026
(in billion U.S. dollars)
Characteristic
Gross domestic product in billion U.S. dollars
2026*
1,048.52
2025*
999.55
2024*
953.31
2023*
899.87
2022*
850.53
2021*
785.59
2020
668.16
2019
612.17
2018
609.2
2017
590.73
2016
543.08
2015
534.52
2014
535.33
2013
512.94
2012
495.61
2011
483.97
2010
444.28
2009
390.83
2008
415.9
2007
406.91
2006
386.45
2005
374.06
2004
346.92
2003
317.38
2002
307.44
2001
299.28
2000
330.68
1999
303.83
1998
279.96
1997
303.28
1996
292.49
1995
279.06
1994
256.25
1993
236.34
1992
222.91
1991
187.14
1990
116.62
1989
152.7
1988
126.47
1987
105.04
1986
78.2
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IMF. (October 12, 2021). Taiwan: Gross domestic product (GDP) in current prices from 1986 to 2026 (in billion U.S. dollars) [Graph]. In Statista. Retrieved May 23, 2022, from https://www.statista.com/statistics/727589/gross-domestic-product-gdp-in-taiwan/
IMF. "Taiwan: Gross domestic product (GDP) in current prices from 1986 to 2026 (in billion U.S. dollars)." Chart. October 12, 2021. Statista. Accessed May 23, 2022. https://www.statista.com/statistics/727589/gross-domestic-product-gdp-in-taiwan/
IMF. (2021). Taiwan: Gross domestic product (GDP) in current prices from 1986 to 2026 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: May 23, 2022. https://www.statista.com/statistics/727589/gross-domestic-product-gdp-in-taiwan/
IMF. "Taiwan: Gross Domestic Product (Gdp) in Current Prices from 1986 to 2026 (in Billion U.S. Dollars)." Statista, Statista Inc., 12 Oct 2021, https://www.statista.com/statistics/727589/gross-domestic-product-gdp-in-taiwan/
IMF, Taiwan: Gross domestic product (GDP) in current prices from 1986 to 2026 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/727589/gross-domestic-product-gdp-in-taiwan/ (last visited May 23, 2022)