
Taiwan
Strong macroeconomic fundamentals, critical export dependencies
A1
LOW RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Last updated in July 2023.
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GDP | USD791bn (IMF 2022) |
Population | 23.3mn (IMF 2022) |
Form of state | Multiparty Democracy |
Head of government | Tsai Ing-wen (President) |
Next electionsJanuary 2024, presidential and legislative | January 2024, presidential and legislative |

- Functioning, stable democracy with robust institutions
- Good record of sound economic management, pro-business environment, well-trained workforce
- Demonstrated economic flexibility, enabling rapid shifts along the value-added scale
- High domestic savings and investment
- Very strong external liquidity

- Increasingly tense (geo)political relationship with mainland China
- Highly dependent on demand from mainland China, Hong Kong and the U.S. (export-dependent economy)
- Openness of the economy leaves it vulnerable to external demand shocks
- Heavy concentration in the IT/electronics sector
Trade structure by destination/origin
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
China
28.2%
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1 |
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United States
14.7%
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2 |
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China, Hong Kong SAR
14.1%
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3 |
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Japan
6.5%
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4 |
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Singapore
5.8%
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5 |
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Trade structure by product
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
Electrical machinery, apparatus and appliances, n.e.s.
43.8%
|
1 |
28.0%
Electrical machinery, apparatus and appliances, n.e.s.
|
Office machines and automatic data processing machines
8.9%
|
2 |
7.9%
Specialised machinery
|
Plastics in primary forms
4.1%
|
3 |
7.9%
Petroleum, petroleum products and related materials
|
Manufactures of metal, n.e.s.
3.4%
|
4 |
4.3%
Office machines and automatic data processing machines
|
Professional and scientific instruments, n.e.s.
3.3%
|
5 |
3.7%
Professional and scientific instruments, n.e.s.
|
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