Page 8 - 2024 BRAVO! TAIWAN_en

A Stable Political System

Taiwan is a free and democratic country that enjoys a high level of political freedom and stability. In four-year
cycles citizens participate in democratic elections to directly elect the president, lawmakers, local leaders and
local councilors. These rulers and representatives must act in accordance with popular opinion, accept public
oversight and be responsible toward citizens.
Taiwan is currently a member of several international Major Economic Indicators, Taiwan
economic organizations, including the World
Trade Organization (WTO), the Asia-Pacific 2023
Economic Cooperation (APEC) group and the GDP US$7,530 billion
Asian Development Bank (ADB). Taiwan engages
in frequent trade and exchange with over 140 GDP per Capita US$32,327
countries worldwide. As the global economy becomes
freer and undergoes rapid development, Taiwan is Economic Growth 1.31Ĉ
constantly adjusting its industrial strategies, easing
regulations and removing investment restrictions. As Export Value US$4,324 billion
it strengthens intellectual property rights protection
regulations, Taiwan moves in line with international Import Value US$3,514 billion
trends.
Foreign Exchange US$5,705 billion
Taiwan's overall trade performance remains stable. Reserves (end of 2023)
In the "2024 Index of Economic Freedom", compiled
by the Heritage Foundation, United States, Taiwan Unemployment 3.33%
(end of 2023)
ranked fourth among the 184 economic entities
covered and two in the Asia-Pacific area, trailing only Labor 59.26Ĉ
Singapore. Whether in terms of business freedom or Participation Rate
trade freedom, Taiwan's performance was excellent. Sources: 1. InvesTaiwan website (http://investtaiwan.nat.gov.tw/)
2. National Statistics, ROC (Taiwan) website (http://www.stat.gov.tw/)

Foreign Investment

As of the end of 2023, 69,075 investment projects worth US$2,193.09 billion had been approved since Taiwan
began acquiring foreign direct investment in 1952. The five leading sources of overseas investments in Taiwan
were from the Caribbean, the Netherlands, the United States, Japan, and the United Kingdom. The top five
industries for investments were: finance and insurance; electronic components manufacturing; wholesale and
retail; information and communications; and professional, scientific, and technical services.
Taiwan approved 2,310 foreign investment projects in 2023, with Singapore, Germany, the British territories in
the Carribean, Canada and the United States as the leading the top five sources of investments, accounting
for 62.9% of total foreign investments for the year. The five leading industries for investment by ranking were:
finance and insurance, electricity and gas supply, wholesale and retail business, professional, scientific and
technology services, and information and communications technology, together accounting for 83.13% of total
foreign investment.

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