Adb, Apec, Bcie, Icc, Ioc, Ituc, Wcl, Wftu, Wto

Diplomatic representation in the US:

none; unofficial commercial and cultural relations with the people of the US are maintained through an unofficial instrumentality, the Taipei Economic and Cultural Representative Office (TECRO), which has its headquarters in Taipei and in the US in Washington, DC; there are also branch offices called Taipei Economic and Cultural Office (TECO) in 12 other US cities

Diplomatic representation from the US:

none; unofficial commercial and cultural relations with the people on Taiwan are maintained through an unofficial instrumentality - the American Institute in Taiwan (AIT) - which has offices in the US and Taiwan; US office at 1700 N. Moore St., Suite 1700, Arlington, VA 22209-1996, telephone: (703) 525-8474, FAX: (703) 841-1385); Taiwan offices at #7 Lane 134, Hsin Yi Road, Section 3, Taipei, Taiwan, telephone: (2) 2162-2000, FAX: (2) 2162-2251; #2 Chung Cheng 3rd Road, 5th Floor, Kaohsiung, Taiwan, telephone: (7) 238-7744, FAX: (7) 238-5237; and the American Trade Center, Room 3208 International Trade Building, Taipei World Trade Center, 333 Keelung Road Section 1, Taipei, Taiwan 10548, telephone: (2) 2720-1550, FAX: (2) 2757-7162

Flag description:

red field with a dark blue rectangle in the upper hoist-side corner bearing a white sun with 12 triangular rays

Economy
Taiwan

Economy - overview:

Taiwan has a dynamic capitalist economy with gradually decreasing guidance of investment and foreign trade by the authorities. In keeping with this trend, some large, state-owned banks and industrial firms are being privatized. Exports have provided the primary impetus for industrialization. The island runs a large trade surplus, and its foreign reserves are among the world's largest. Despite restrictions on cross-strait links, China has overtaken the US to become Taiwan's largest export market and its second-largest source of imports after Japan. China is also the island's number one destination for foreign direct investment. Strong trade performance in 2007 pushed Taiwan's GDP growth rate above 5%, and unemployment is below 4%.

GDP (purchasing power parity):

$698.6 billion (2007 est.)

GDP (official exchange rate):

$383.3 billion (2007 est.)

GDP - real growth rate:

5.7% (2007 est.)

GDP - per capita (PPP):

$30,100 (2007 est.)

GDP - composition by sector:

agriculture: 1.4% industry: 27.5% services: 71.1% (2007 est.)

Labor force:

10.71 million (2007 est.)

Labor force - by occupation:

agriculture: 5.3% industry: 36.8% services: 57.9% (2007 est.)

Unemployment rate:

3.9% (2007 est.)

Population below poverty line:

0.95% (2007 est.)

Household income or consumption by percentage share:

lowest 10%: 6.7% highest 10%: 41.1% (2002 est.)

Investment (gross fixed):

21.2% of GDP (2007 est.)

Budget:

revenues: $76.2 billion expenditures: $75.65 billion (2007 est.)

Fiscal year:

calendar year

Public debt:

27.9% of GDP (2007 est.)

Inflation rate (consumer prices):

1.8% (2007 est.)

Central bank discount rate: