Country explorer: Taiwan
EXPERIMENTAL
2024
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Overview
Taiwan is a mountainous, high-income island in East Asia with a medium-sized population. Its economy has grown stably in recent decades, and is based on electronics, textiles and machinery.
Taiwan has a vibrant tech industry, led by companies like TSMC and ASUS.
Economy
Taiwan has experienced substantial economic growth, with notable increases in GDP per capita and significant reductions in poverty across various thresholds, highlighting its success compared to regional peers like Japan, Singapore, and South Korea in fostering economic well-being while managing disparities.
Demographics
Taiwan has experienced modest population growth, rapidly declining fertility rates to below-replacement levels, and a significant increase in life expectancy, trends that align it closely with other high-income countries and reflect broader challenges such as aging and potential labor shortages.
Basic needs
In the past two decades, Taiwan has likely experienced significant improvements in living conditions, mirroring trends in advanced economies, though specific data on access to basic needs such as clean cooking fuels, electricity, and water and sanitation facilities is not provided here.
Human development
Taiwan has seen a significant improvement in its literacy rate, aligning it closely with other high-income countries and demonstrating its commitment to education in the context of global human development trends.
Environment & energy
Taiwan has seen a significant transition in its electricity production, with a marked increase in solar and wind energy generation, showcasing a broader commitment to renewable energy sources compared to its high-income peers and regional neighbors.
Technology & innovation
Taiwan has emerged as a significant global hub for technology and innovation, achieving notable advancements despite the absence of specific data in this profile.
Culture & society
Taiwan has seen a considerable improvement in self-reported life satisfaction and a moderate increase in the age dependency ratio, reflecting broader trends of well-being and demographic shifts similar to other high-income countries, yet with noteworthy resilience and adaptability in its societal development.
Governance
Taiwan has demonstrated significant progress in governance, showcasing improvements in the rule of law, reduced perceptions of corruption, expanded political and civil liberties, and enhanced press freedom, distinguishing it from many of its regional peers and aligning more closely with high-income countries in terms of democratic governance.