Taiwan’s

economy
Business and Accounting

Made by : Sadiq talal

 1

introduction to Taiwan

Table of contents 2
The main subjects I will handle in
The main characteristics
these slides

Exports, imports, and trade balance

introduction to Taiwan

Location and population

officially the Republic of China (ROC) it’s a country in East Asia. It is located at the Northwestern
Pacific Ocean's junction of the East and South China Seas. The ROC-controlled territories consist of
168 islands with a combined area of 36,193 square kilometers (13,974 square miles). The main
island of Taiwan, also known as Formosa, has an area of 35,808 square kilometers (13,826 square
miles), its population kept decreasing until it reached 23,3 million in 2023, although Taiwan is
among the most densely populated countries.
 The main characteristics

The National Development Council (NDC) said Monday that its most recent forecasts
GDP show Taiwan's gross domestic product (GDP) growing by about 1.5 percent in 2023 amid
improvements for the export-oriented manufacturing sector.

its GDP per capita in 2023 is $33,907 USD which is one of the high-income
GDP per capita economies in the world, therefore Taiwan ranks 21st in terms of GDP .
Problem 1

Taiwan's Unemployment Rate dropped to 3.42% in Aug 2023, from the previously
unemployment rate reported figure of 3.43% in Jul 2023. Taiwan Unemployment Rate is updated
monthly, available from Apr 1993 to Aug 2023, with an average rate of 3.86%.

In September 2023, consumer prices in Taiwan increased by approximately 2.93

inflation rate percent compared to the same month of the previous year. Inflation in Taiwan peaked
at 3.6 percent in June 2022 and eased gradually thereafter.
 GDP GDP per cabita

unemployment rate inflation rate

 1
Refined petroleum
( 9.7 billion USD)

2
The chief three exports and Hot-rolled iron
imports goods in Taiwan
(2.6 billion USD )

3
Refined coated Flat-Rolled Ironetroleum
( 9.7 billion USD)
 Exports, imports, and trade balance

Merchandise exports in August 2023 had contracted by 7.3% y/y, after declining
Exports by 10.4% y/y in July and an even sharper downturn of 23.4% y/y in June. Despite
the improvement in September exports, Taiwan's exports fell by 13.8% during the
first nine months of 2023 compared to the same period a year ago.

Problem 1
Imports to Taiwan slipped 22.9% year-on-year to USD 28.77 billion in
Imports August 2023, down from a 20.9% drop in July and compared to the market
estimate of a 16.3% decline.

Taiwan's trade surplus widened sharply to a record USD 10.32 billion in

September 2023 from USD 5.10 billion in the same month of the previous
Trade balance year, exceeding market forecasts of USD 7.50 billion.
 Exports
( 38811.32 billion USD )

Imports
( 28487.37 billion USD )
The trade balance = Exports - Imports
10323.95 = 38811.32 - 28487.37
THANK YOU !