Taiwan occupies an important position in the global economy. It is a top player in the world's information and communications technology industry as well as a major supplier of goods across the industrial spectrum. According to the World Trade Organization, it was the 17th-largest exporter and 18th-largest importer of merchandise in 2011. It also remained the fourth-largest holder of foreign exchange reserves at the end of that year.
After weathering the global financial crisis Taiwan's export oriented economy was quick to bounce back and posted GDP growth of 4.04% in 2011. The nation's overall exports and imports also edged up 12.3% and 12% over the previous year. Further, Taiwan's GDP per capita in 2011surpassed the US$20,000 milestone thanks to solid economic fundamentals, the resilience of its business, and swift government measures to maintain order in the domestic financial market, stabilize prices, create employment opportunities, promote inbound investment and boost domestic consumption.
To foster the country's sustainable economic development, the government has launched the i-Taiwan 12 projects covering transportation, industry, infrastructure and environmental conservation. The projects are scheduled for completion by 2016 with an estimated cost of NT$4 trillion (US$135.76 billion). Taiwan will also continue to deregulate the business environment and seek active participation in regional economic integration.
Due to such economic vigor, authoritative annual surveys of the world's economies – including those conducted by the World Economic Forum, Business Environment Risk Intelligence and the Economic Intelligence Unit – have ranked Taiwan among the world's top nations year after year with respect to long-term growth and technological development.
ECONOMIC, TRADE AND INVESTMENT PROFILE
GDP (nominal): US$ 467 billion
GDP per capita (nominal): US$ 20,139
GDP (Purchasing Power Parity; PPP) per capita (estimate by IMF): US$ 37,720
Bilateral trade volume: US$ 589.7 billion
Exports: US$ 308.26 billion
Imports: US$ 281.44 billion
Trade balance: US$ 26.82 billion surplus
Foreign exchange reserves: US$ 395.1 billion (April, 2012)
Registered inward investment: US$ 4.96 billion (including US$ 43.74 million from the Chinese mainland)
Registered outward investment: US$ 16.80 billion (including US$ 13.10 billion bound for the Chinese mainland)
GLOBAL SURVEY RANKINGS
4th Investment climate assessment (by Business Environment Risk Intelligence)
The 7th most competitive of 59 nations at the World Competitiveness Scoreboard (May 2012) by International Institute for Management Development
13th most competitive of 142 nations assessed by World Economic Forum (Global Competitiveness Index, September 2011)
11th of 142 nations at Networked Readiness Index 2012 (World Economic Forum)
18th of 184 nations at 2012 Index of Economic Freedom (Heritage Foundation & The Wal Street Journal)
