Field info displayed for all countries in alpha order.
Taiwan has a dynamic capitalist economy with gradually decreasing government guidance of investment and foreign trade. In keeping with this trend, some large, state-owned banks and industrial firms have been privatized. Exports, led by electronics, machinery, and petrochemicals have provided the primary impetus for economic development. This heavy dependence on exports exposes the economy to fluctuations in world demand. In 2009, Taiwan’s GDP contracted 1.9%, due primarily to a 20% year-on-year decline in exports. In 2010 GDP grew 10.9%, as exports returned to the level of previous years, and in 2011, grew 5.2%. However, 2012 growth will likely be less, according to most forecasters, because of softening global demand. Taiwan’s diplomatic isolation, low birth rate, and rapidly aging population are major long-term challenges. Free trade agreements have proliferated in East Asia over the past several years, but so far Taiwan has been excluded from this greater economic integration largely because of its diplomatic status with the exception of the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010. The MA administration has said that the ECFA will serve as a stepping stone toward trade pacts with other regional partners, and negotiations on a deal with Singapore began this year. Follow-on components of ECFA, including deals on trade in goods, services, and investment, have yet to be completed. Taiwan’s Total Fertility rate of just over one child per woman is among the lowest in the world, raising the prospect of future labor shortages, falling domestic demand, and declining tax revenues. Taiwan’s population is aging quickly, with the number of people over 65 accounting for 10.9% of the island’s total population as of 2011. The island runs a large trade surplus, and its foreign reserves are the world’s fourth largest, behind China, Japan, and Russia. Since 2005 China has overtaken the US to become Taiwan’s second-largest source of imports after Japan. China is also the island’s number one destination for foreign direct investment. Three financial memorandums of understanding, covering banking, securities, and insurance, took effect in mid-January 2010, opening the island to greater investments from the mainland’s financial firms and institutional investors, and providing new opportunities for Taiwan financial firms to operate in China. Closer economic links with the mainland bring greater opportunities for the Taiwan economy, but also poses new challenges as the island becomes more economically dependent on China while political differences remain unresolved.
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$885.3 billion (2011 est.)

country comparison to the world: 20

$841.2 billion (2010 est.)
$758.6 billion (2009 est.)
note: data are in 2011 US dollars
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$504.6 billion (2011 est.)
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5.2% (2011 est.)

country comparison to the world: 63

10.9% (2010 est.)
-1.9% (2009 est.)
Field info displayed for all countries in alpha order.
$37,900 (2011 est.)

country comparison to the world: 28

$36,300 (2010 est.)
$32,800 (2009 est.)
note: data are in 2011 US dollars
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agriculture: 1.3%
industry: 32%
services: 66.9% (2011 est.)
Field info displayed for all countries in alpha order.
11.16 million (2011 est.)

country comparison to the world: 47

Field info displayed for all countries in alpha order.
agriculture: 5.2%
industry: 35.9%
services: 58.8% (2010 est.)
Field info displayed for all countries in alpha order.
4.3% (2011 est.)

country comparison to the world: 42

5.2% (2010 est.)
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1.16% (2010 est.)
Field info displayed for all countries in alpha order.
lowest 10%: 6.4%
highest 10%: 40.3% (2010)
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32.6 (2000)

country comparison to the world: 105

Field info displayed for all countries in alpha order.
22.4% of GDP (2011 est.)

country comparison to the world: 89

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revenues: $78.44 billion
expenditures: $91.48 billion (2011 est.)
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15.5% of GDP (2011 est.)

country comparison to the world: 184

Field info displayed for all countries in alpha order.
-2.6% of GDP (2011 est.)

country comparison to the world: 96

Field info displayed for all countries in alpha order.
34.9% of GDP (2011 est.)

country comparison to the world: 93

33.4% of GDP (2010 est.)
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1.6% (2011 est.)

country comparison to the world: 12

1% (2010 est.)
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1.625% (31 December 2010)

country comparison to the world: 130

1.25% (February 2009)
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2.8% (31 December 2011 est.)

country comparison to the world: 183

2.676% (31 December 2010 est.)
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$429.9 billion (31 December 2011 est.)

country comparison to the world: 12

$377.3 billion (31 December 2010 est.)
Field info displayed for all countries in alpha order.
$1.134 trillion (31 December 2011 est.)

country comparison to the world: 16

$1.022 trillion (31 December 2010 est.)
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$792.2 billion (31 December 2011 est.)

country comparison to the world: 19

$751.5 billion (31 December 2010 est.)
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$784.1 billion (31 December 2010)

country comparison to the world: 18

$657.3 billion (31 December 2009)
$354.7 billion (31 December 2008)
Field info displayed for all countries in alpha order.
rice, vegetables, fruit, tea, flowers; pigs, poultry; fish
Field info displayed for all countries in alpha order.
electronics, communications and information technology products, petroleum refining, armaments, chemicals, textiles, iron and steel, machinery, cement, food processing, vehicles, consumer products, pharmaceuticals
Field info displayed for all countries in alpha order.
8.5% (2011 est.)

country comparison to the world: 18

Field info displayed for all countries in alpha order.
229.1 billion kWh (2009)

country comparison to the world: 18

Field info displayed for all countries in alpha order.
220.8 billion kWh (2009)

country comparison to the world: 16

Field info displayed for all countries in alpha order.
0 kWh (2009 est.)
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0 kWh (2009 est.)
Field info displayed for all countries in alpha order.
26,680 bbl/day (2010 est.)

country comparison to the world: 74

Field info displayed for all countries in alpha order.
1.002 million bbl/day (2010 est.)

country comparison to the world: 21

Field info displayed for all countries in alpha order.
303,000 bbl/day (2010 est.)

country comparison to the world: 42

Field info displayed for all countries in alpha order.
876,300 bbl/day (2010 est.)

country comparison to the world: 16

Field info displayed for all countries in alpha order.
2.38 million bbl (1 January 2011 est.)

country comparison to the world: 94

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310 million cu m (2009 est.)

country comparison to the world: 74

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12.1 billion cu m (2009 est.)

country comparison to the world: 44

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0 cu m (2009 est.)

country comparison to the world: 194

Field info displayed for all countries in alpha order.
11.79 billion cu m (2009 est.)

country comparison to the world: 23

Field info displayed for all countries in alpha order.
6.229 billion cu m (1 January 2011 est.)

country comparison to the world: 86

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$40.91 billion (2011 est.)

country comparison to the world: 14

$39.9 billion (2010 est.)
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$325.1 billion (2011 est.)

country comparison to the world: 19

$273.8 billion (2010 est.)
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electronics, flat panels, machinery; metals; textiles, plastics, chemicals; optical, photographic, measuring, and medical instruments
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China 28.1%, Hong Kong 13.8%, US 11.5%, Japan 6.6%, Singapore 4.4% (2010 est.)
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$298.6 billion (2011 est.)

country comparison to the world: 19

$247.3 billion (2010 est.)
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electronics, machinery, crude petroleum, precision instruments, organic chemicals, metals
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Japan 20.7%, China 14.2%, US 10%, South Korea 6.4%, Saudi Arabia 4.7% (2010 est.)
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$418.4 billion (31 December 2011 est.)

country comparison to the world: 5

$387.2 billion (31 December 2010 est.)
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$116 billion (31 December 2011 est.)

country comparison to the world: 39

$101.7 billion (31 December 2010 est.)
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$65.26 billion (31 December 2011 est.)

country comparison to the world: 50

$63.38 billion (31 December 2010 est.)
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$162.9 billion (31 December 2010 est.)

country comparison to the world: 22

$145.3 billion (31 December 2009 est.)
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New Taiwan dollars (TWD) per US dollar –
29.05 (2011 est.)
31.648 (2010 est.)
33.061 (2009)
31.53 (2008)
32.84 (2007)
Field info displayed for all countries in alpha order.
calendar year
Source: CIA World Factbook 2012

About The Aseanists Time

The Aseanists Time is daily online newspaper and magazine covering on regional politic, economic, and social issues; science and technology, regional leaders, politic and economic in each ASEAN Member States along with ASEAN 6 (United States, Australia, Japan, South Korea, China, and India), regional natural disaster and climate change, regional business, finance and economic statistic and figure. Furthermore, We also cover on top 10 economic countries. Finally, we report ASEAN, EU and UN as well.

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