Distribution of GDP across economic sectors in Taiwan 2013-2023

In 2023, the industrial sector contributed approximately 36.8 percent to the overall gross domestic product (GDP) of Taiwan. This share has been largely stable since 2014. Taiwan’s total GDP amounted to around 757 billion U.S. dollars in 2023.

Taiwan’s GDP composition in comparison

Like other East Asian countries such as South Korea and Japan, Taiwan maintains a strong industrial sector. This is due to a focus on high-tech production and a deep integration into global value chains, which enables the industrial sector to generate high economic growth rates. Taiwan is an important exporter of electronic products and the largest producer of advanced computer chips in the world. In contrast, many other developed economies such as the U.S. and EU member states have a significantly smaller manufacturing sector and put a stronger emphasis on services.

Relevant economic sub-sectors

Corresponding to Taiwan’s export-oriented economy, wholesale and retail trade is the most important service sub-sector of the economy. Finance and insurance accounted for less than seven percent of the total value added. A similar sector distribution is reflected in the sectoral employment structure. Both the distribution of value added, and the employment structure have been comparatively stable over the last decade.