Mandarin, Min Nan, Hakka dialects, approximately 16 indigenous languages
Economic Overview
Key economic indicators for Taiwan
GDP:
$1.143 trillion
GDP per Capita:
$47,800
GDP Growth:
2.71%
Inflation:
0.5%
Unemployment:
3.73%
Public Debt:
35.7% of GDP
Credit Rating:
AA- (2002)
Political System
Governance structure of Taiwan
Government Type:
semi-presidential republic
Head of State:
President LAI Ching-te (since 19 May 2024)
Head of Government:
Premier CHO Jung-tai (President of the Executive Yuan) (since 20 May 2024)
Judiciary:
Supreme Court (consists of the court president, vice president, and approximately 100 judges organized into civil and criminal panels, each with a chief justice and 4 associate justices); Constitutional Court (consists of the court president, vice president, and 13 justices)
Administrative Divisions:
includes main island of Taiwan plus smaller islands nearby and off coast of China's Fujian Province; Taiwan is divided into 13 counties (xian, singular and plural), 3 cities (shi, singular and plural), and 6 special municipalities directly under the jurisdiction of the Executive Yuan
Major Political Parties
Not specified
International Relations
Global position and alliances
UN Member:
No
EU Member:
No
Diplomatic Presence:
Not specified
Major Alliances and Organizations
Economic Sectors & Trade
Detailed economic breakdown
Major Economic Sectors
Agriculture
1.8% (2017 est.)
Industry
36% (2017 est.)
Services
62.1% (2017 est.)
Trade Volume
Exports:
$388.49 billion
Imports:
$308.744 billion
Major Trading Partners
China 20
USA 17
Hong Kong 13
Singapore 9
Japan 7
Economic Outlook
Taiwan has a 2.71% GDP growth rate with 0.5% inflation. The economy is characterized by a strong agriculture sector.