Taiwan ranked 22/197 by economy size with a GDP of $797B and 34/197 by GDP per capita at $34,041. Taiwan has $209B in government debt, with a debt-to-GDP ratio of 24%.
In 2025, Taiwan made up 0.72% of the world's economy, compared to 0.12% in 1961.
The chart below shows GDP in nominal terms, GDP adjusted for inflation (in constant dollars), and a bar chart of year-over-year inflation-adjusted growth.
| Year | GDP | GDP growth | |
|---|---|---|---|
| Current $ | Constant $ | ||
| 1961 | $1,778,000,000 | $8,679,929,611 | - |
| 1962 | $1,960,000,000 | $9,454,346,748 | 10.2% |
| 1963 | $2,218,000,000 | $10,464,907,675 | 13.2% |
| 1964 | $2,592,000,000 | $11,793,964,384 | 16.9% |
| 1965 | $2,869,000,000 | $13,190,336,174 | 10.7% |
| 1966 | $3,207,000,000 | $14,463,525,312 | 11.8% |
| 1967 | $3,709,000,000 | $16,077,852,678 | 15.7% |
| 1968 | $4,325,000,000 | $17,637,862,239 | 16.6% |
| 1969 | $5,017,000,000 | $19,323,708,846 | 16% |
| 1970 | $5,785,000,000 | $21,555,007,674 | 15.3% |
| 1971 | $6,727,000,000 | $24,445,797,153 | 16.3% |
| 1972 | $8,063,000,000 | $27,842,009,247 | 19.9% |
| 1973 | $10,940,000,000 | $32,847,062,458 | 35.7% |
| 1974 | $14,739,000,000 | $33,945,846,774 | 34.7% |
| 1975 | $15,836,000,000 | $36,044,903,890 | 7.44% |
| 1976 | $18,988,000,000 | $41,191,572,828 | 19.9% |
| 1977 | $22,252,000,000 | $45,893,568,392 | 17.2% |
| 1978 | $27,373,000,000 | $53,597,868,524 | 23% |
| 1979 | $33,875,000,000 | $59,870,085,548 | 23.8% |
| 1980 | $42,292,000,000 | $64,680,315,014 | 24.8% |
| 1981 | $49,047,000,000 | $67,783,428,692 | 16% |
| 1982 | $49,540,000,000 | $66,810,194,447 | 1.01% |
| 1983 | $54,155,000,000 | $71,137,046,806 | 9.32% |
| 1984 | $61,036,000,000 | $79,147,911,326 | 12.7% |
| 1985 | $63,599,000,000 | $82,460,447,325 | 4.2% |
| 1986 | $78,347,000,000 | $96,836,732,438 | 23.2% |
| 1987 | $104,956,000,000 | $129,675,882,423 | 34% |
| 1988 | $126,378,000,000 | $156,044,046,292 | 20.4% |
| 1989 | $152,687,000,000 | $183,784,649,810 | 20.8% |
| 1990 | $166,392,000,000 | $190,504,223,552 | 8.98% |
| 1991 | $187,100,000,000 | $206,988,834,464 | 12.4% |
| 1992 | $222,947,000,000 | $238,968,470,019 | 19.2% |
| 1993 | $234,943,000,000 | $243,364,255,376 | 5.38% |
| 1994 | $256,213,000,000 | $260,942,755,411 | 9.05% |
| 1995 | $279,013,000,000 | $277,583,630,009 | 8.9% |
| 1996 | $292,473,000,000 | $284,304,017,330 | 4.82% |
| 1997 | $303,315,000,000 | $288,489,435,863 | 3.71% |
| 1998 | $279,926,000,000 | $257,858,026,837 | -7.71% |
| 1999 | $303,827,000,000 | $285,370,494,339 | 8.54% |
| 2000 | $330,725,000,000 | $313,484,942,307 | 8.85% |
| 2001 | $299,303,000,000 | $285,512,538,534 | -9.5% |
| 2002 | $307,429,000,000 | $294,450,146,922 | 2.71% |
| 2003 | $317,374,000,000 | $308,324,316,262 | 3.23% |
| 2004 | $346,881,000,000 | $339,503,528,904 | 9.3% |
| 2005 | $374,042,000,000 | $371,706,869,424 | 7.83% |
| 2006 | $386,492,000,000 | $388,895,059,066 | 3.33% |
| 2007 | $406,940,000,000 | $411,645,733,929 | 5.29% |
| 2008 | $415,824,000,000 | $432,019,156,870 | 2.18% |
| 2009 | $390,788,000,000 | $405,487,441,747 | -6.02% |
| 2010 | $444,245,000,000 | $466,993,498,994 | 13.7% |
| 2011 | $483,957,000,000 | $519,940,525,565 | 8.94% |
| 2012 | $495,536,000,000 | $528,811,359,505 | 2.39% |
| 2013 | $512,957,000,000 | $539,165,671,117 | 3.52% |
| 2014 | $535,332,000,000 | $553,457,593,678 | 4.36% |
| 2015 | $534,474,000,000 | $534,474,000,000 | -0.16% |
| 2016 | $543,002,000,000 | $538,950,160,299 | 1.6% |
| 2017 | $591,734,000,000 | $593,383,986,358 | 8.97% |
| 2018 | $610,744,000,000 | $616,265,638,561 | 3.21% |
| 2019 | $613,453,000,000 | $619,320,922,242 | 0.44% |
| 2020 | $676,935,000,000 | $669,693,209,528 | 10.3% |
| 2021 | $777,062,000,000 | $754,527,202,297 | 14.8% |
| 2022 | $765,529,000,000 | $728,253,805,256 | -1.48% |
| 2023 | $757,276,000,000 | $704,527,158,972 | -1.08% |
| 2024 | $796,904,000,000 | $716,608,430,916 | 5.23% |
Economic Statistics of Taiwan
Taiwan
|
Rank | |
|---|---|---|
| Gross domestic product |
$797B
2024 |
22/197 |
| GDP growth |
5.23%
2023-2024 |
107/196 |
| GDP per capita |
$34,041
2024 |
34/197 |
| GDP per capita, PPP |
$50,500
2017 |
43/197 |
| Government debt |
$209B
2024 |
40/185 |
| Debt-to-GDP ratio |
24%
2025 |
170/185 |
| Government debt per person |
$8,907
2024 |
61/185 |
| Average annual personal income after taxes |
$17,771
2025 |
48/197 |
| Number of millionaires |
788,799
2024 |
15/34 |
| Millionaire frequency |
1 in 25
2024 |
13/34 |
| Number of billionaires |
54
2025 |
10/78 |
| Billionaire frequency |
1 in 363,918
2025 |
13/78 |
| Government expenditure, % of GDP |
15.9%
2024 |
182/195 |
| Consumer prices inflation |
1.7%
2024-2025 |
151/195 |
| Central bank interest rate |
2%
2024 |
95/105 |
| Unemployment rate |
3.38%
2024 |
140/196 |
| Population |
23308308
|
60/197 |
Taiwan's GDP per capita
Taiwan has a GDP per capita of $34,041, ranking 34/197, a GDP per capita based on purchasing power parity (PPP) of $50,500, ranking 43/197, and a median annual after tax income of $17,771, ranking 48/197.
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 1961 | $161.2 | - |
| 1962 | $172 | - |
| 1963 | $188.6 | - |
| 1964 | $213.6 | - |
| 1965 | $229.3 | - |
| 1966 | $249.1 | - |
| 1967 | $280.8 | - |
| 1968 | $319 | - |
| 1969 | $357 | - |
| 1970 | $397 | - |
| 1971 | $451 | - |
| 1972 | $530 | - |
| 1973 | $706 | - |
| 1974 | $934 | - |
| 1975 | $985 | - |
| 1976 | $1,158 | - |
| 1977 | $1,330 | - |
| 1978 | $1,606 | - |
| 1979 | $1,950 | - |
| 1980 | $2,389 | - |
| 1981 | $2,720 | - |
| 1982 | $2,699 | - |
| 1983 | $2,903 | - |
| 1984 | $3,224 | - |
| 1985 | $3,314 | - |
| 1986 | $4,036 | - |
| 1987 | $5,350 | - |
| 1988 | $6,370 | - |
| 1989 | $7,613 | - |
| 1990 | $8,205 | - |
| 1991 | $9,125 | - |
| 1992 | $10,768 | - |
| 1993 | $11,242 | - |
| 1994 | $12,150 | - |
| 1995 | $13,119 | - |
| 1996 | $13,641 | - |
| 1997 | $14,020 | - |
| 1998 | $12,820 | - |
| 1999 | $13,804 | $16,100 |
| 2000 | $14,908 | $17,400 |
| 2001 | $13,397 | $17,200 |
| 2002 | $13,686 | $18,000 |
| 2003 | $14,066 | $23,400 |
| 2004 | $15,317 | $25,300 |
| 2005 | $16,456 | $27,500 |
| 2006 | $16,934 | $29,500 |
| 2007 | $17,757 | $30,100 |
| 2008 | $18,081 | $31,100 |
| 2009 | $16,933 | $32,000 |
| 2010 | $19,197 | $35,700 |
| 2011 | $20,866 | $38,200 |
| 2012 | $21,295 | $39,400 |
| 2013 | $21,973 | $39,600 |
| 2014 | $22,874 | - |
| 2015 | $22,780 | $46,800 |
| 2016 | $23,091 | - |
| 2017 | $25,121 | $50,500 |
| 2018 | $25,901 | - |
| 2019 | $25,998 | - |
| 2020 | $28,705 | - |
| 2021 | $33,111 | - |
| 2022 | $32,827 | - |
| 2023 | $32,442 | - |
| 2024 | $34,041 | - |
Taiwan's government spending, deficit, and chart
This chart shows Taiwan's government spending, budget balance, and debt over time, each expressed as a share of GDP.
Over the past 49 years, Taiwan recorded a fiscal deficit in 39 years — average annual deficit equal to -1.48% of GDP. In 2024, government spending reached $127B (15.9% of GDP), with a surplus of +0.43%.
The national debt reached $209B, ranking 40th out of 185 countries by total size, with a debt-to-GDP ratio of 24%, ranking 170th.
| Year | % of GDP | ||
|---|---|---|---|
| Government spending | Government debt | Government deficit/surplus | |
| 1976 | 21.4% | - | 1.39% |
| 1977 | 18.3% | - | 1.19% |
| 1978 | 14.9% | - | 0.97% |
| 1979 | 12% | - | 0.78% |
| 1980 | 9.63% | - | 0.63% |
| 1981 | 23.6% | - | -0.78% |
| 1982 | 23.3% | - | -0.77% |
| 1983 | 21.3% | - | -0.7% |
| 1984 | 18.9% | - | -0.62% |
| 1985 | 18.2% | - | -0.6% |
| 1986 | 14.8% | - | -0.49% |
| 1987 | 11% | - | -0.36% |
| 1988 | 9.14% | - | -0.3% |
| 1989 | 7.57% | - | -0.25% |
| 1990 | 6.95% | - | -0.23% |
| 1991 | 25.4% | - | -4.5% |
| 1992 | 21.3% | - | -3.78% |
| 1993 | 20.3% | - | -3.58% |
| 1994 | 18.6% | - | -3.29% |
| 1995 | 17.1% | - | -3.02% |
| 1996 | 16.3% | - | -2.88% |
| 1997 | 15.7% | 25% | -2.78% |
| 1998 | 17% | 23.7% | -3.01% |
| 1999 | 15.7% | 23.7% | -2.77% |
| 2000 | 14.4% | 26.2% | -2.55% |
| 2001 | 22.5% | 30.1% | -3.71% |
| 2002 | 21.9% | 29.8% | -3.61% |
| 2003 | 21.2% | 32.1% | -3.49% |
| 2004 | 19.4% | 33.4% | -3.2% |
| 2005 | 18% | 34.1% | -2.97% |
| 2006 | 17.4% | 33.3% | -2.87% |
| 2007 | 16.5% | 32.2% | -2.73% |
| 2008 | 16.2% | 33.4% | -2.67% |
| 2009 | 17.2% | 36.7% | -2.84% |
| 2010 | 15.1% | 36.9% | -2.5% |
| 2011 | 18.3% | 38.3% | -2.15% |
| 2012 | 17.9% | 39.2% | -2.1% |
| 2013 | 17.3% | 38.9% | -2.03% |
| 2014 | 16.6% | 37.5% | -1.94% |
| 2015 | 15.5% | 35.9% | 0.1% |
| 2016 | 15.6% | 35.4% | -0.31% |
| 2017 | 15.4% | 34.5% | -0.14% |
| 2018 | 15.4% | 33.8% | 0.02% |
| 2019 | 15.3% | 32.6% | 0.11% |
| 2020 | 16.2% | 32% | -1.03% |
| 2021 | 15.4% | 30.1% | -0.18% |
| 2022 | 16% | 29.5% | 0.17% |
| 2023 | 17.1% | 29% | -0.61% |
| 2024 | 15.9% | 26.2% | 0.43% |
| 2025 | - | 24% | - |
Inflation rate by year
Over the past 20 years, Taiwan has had an average annual inflation rate of 1.31%. In 2025, inflation was 1.7%. The bar chart below shows consumer price inflation by year.
| Year | Inflation |
|---|---|
| 1980 | 19% |
| 1981 | 10.9% |
| 1982 | 3% |
| 1983 | 1.4% |
| 1984 | 0% |
| 1985 | -0.2% |
| 1986 | 0.7% |
| 1987 | 0.5% |
| 1988 | 1.3% |
| 1989 | 4.4% |
| 1990 | 4.1% |
| 1991 | 3.6% |
| 1992 | 4.5% |
| 1993 | 2.9% |
| 1994 | 4.1% |
| 1995 | 3.7% |
| 1996 | 3.1% |
| 1997 | 0.9% |
| 1998 | 1.7% |
| 1999 | 0.2% |
| 2000 | 1.2% |
| 2001 | 0% |
| 2002 | -0.2% |
| 2003 | -0.3% |
| 2004 | 1.6% |
| 2005 | 2.3% |
| 2006 | 0.6% |
| 2007 | 1.8% |
| 2008 | 3.5% |
| 2009 | -0.9% |
| 2010 | 1% |
| 2011 | 1.4% |
| 2012 | 1.9% |
| 2013 | 0.8% |
| 2014 | 1.2% |
| 2015 | -0.3% |
| 2016 | 1.4% |
| 2017 | 0.6% |
| 2018 | 1.4% |
| 2019 | 0.6% |
| 2020 | -0.2% |
| 2021 | 2% |
| 2022 | 2.9% |
| 2023 | 2.5% |
| 2024 | 2.2% |
| 2025 | 1.7% |
Balance of trade
|
Taiwan
|
Rank | |
|---|---|---|
Current account balance
|
$113B
2024 |
4/189 |
| Current account balance, % of GDP |
+14.1%
2024 |
11/189 |
| Imports of goods and services, % of GDP |
50.2%
2024 |
79/180 |
| Exports of goods and services, % of GDP |
63.3%
2024 |
36/193 |
Economic freedom indices
|
Taiwan
|
Rank | |
|---|---|---|
| Economic freedom | 79.7 | 5/197 |
| Property rights | 83 | 35/182 |
| Government integrity | 73.3 | 35/182 |
| Judicial effectiveness | 94.4 | 35/182 |
| Tax burden | 79 | 93/181 |
| Government spending | 90.1 | 21/180 |
| Fiscal health | 91.3 | 40/181 |
| Business freedom | 79.6 | 35/182 |
| Labor freedom | 69 | 18/182 |
| Monetary freedom | 79.9 | 10/180 |
| Trade freedom | 86.6 | 8/181 |
| Investment freedom | 70 | 43/181 |
| Financial freedom | 60 | 64/181 |
Taiwan's economic freedom by year
Taiwan is ranked 4/180 for economic freedom with a score of 79.7, compared to 19/163 and a score of 71.3 in 2005.
| Year | Index | ||||
|---|---|---|---|---|---|
| Economic freedom | Judicial effectiveness | Tax burden | Government spending | Fiscal health | |
| 1995 | 74.2 | - | 74.1 | 69.9 | - |
| 1996 | 74.1 | - | 74.3 | 70 | - |
| 1997 | 70 | - | 74.4 | 71.4 | - |
| 1998 | 70.4 | - | 74.4 | 73.7 | - |
| 1999 | 71.5 | - | 75.2 | 78.3 | - |
| 2000 | 72.5 | - | 75.4 | 84.1 | - |
| 2001 | 72.8 | - | 75.3 | 79.7 | - |
| 2002 | 71.3 | - | 75.7 | 82.7 | - |
| 2003 | 71.7 | - | 76.1 | 81.3 | - |
| 2004 | 69.6 | - | 76.1 | 82.3 | - |
| 2005 | 71.3 | - | 76.3 | 82.9 | - |
| 2006 | 69.7 | - | 75.8 | 84 | - |
| 2007 | 69.4 | - | 77 | 86.8 | - |
| 2008 | 70.3 | - | 75.9 | 87.8 | - |
| 2009 | 69.5 | - | 76.2 | 89.4 | - |
| 2010 | 70.4 | - | 75.9 | 90.5 | - |
| 2011 | 70.8 | - | 78.3 | 89.7 | - |
| 2012 | 71.9 | - | 80.4 | 92.3 | - |
| 2013 | 72.7 | - | 80.5 | 84.9 | - |
| 2014 | 73.9 | - | 80.3 | 84.7 | - |
| 2015 | 75.1 | - | 80.4 | 87.1 | - |
| 2016 | 74.7 | - | 76.1 | 88.7 | - |
| 2017 | 76.5 | 67.7 | 75.3 | 89.5 | 83.7 |
| 2018 | 76.6 | 69.2 | 76.1 | 90.4 | 90.8 |
| 2019 | 77.3 | 70.1 | 75 | 90.6 | 91.6 |
| 2020 | 77.1 | 70.1 | 75 | 90.5 | 91 |
| 2021 | 78.6 | 72.9 | 79.2 | 91 | 93.7 |
| 2022 | 80.1 | 94.2 | 79.2 | 90.7 | 86.6 |
| 2023 | 80.7 | 76.3 | 79.3 | 91.1 | 93.6 |
| 2024 | 80 | 94 | 79.2 | 90.5 | 90.3 |
| 2025 | 79.7 | 94.4 | 79 | 90.1 | 91.3 |
More economic indicators
|
Taiwan
|
Rank | |
|---|---|---|
| Services, % of GDP |
58.8%
2024 |
83/191 |
| Industry, % of GDP |
39.8%
2024 |
20/194 |
| Agriculture, forestry, and fishing, % of GDP |
1.47%
2024 |
161/193 |
|
GNI, Atlas method
|
$825B
2024 |
21/194 |
| Poverty at national poverty lines |
1.5%
2020 |
174/176 |
|
Gross capital formation, % of GDP
|
26.7%
2024 |
56/176 |
Compare countries by 7 more topics
GDP per capita map
GDP per capita
Relevant pages:
Taiwan topic pages:
Economy comparisons
The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.