TIER: Taiwan standing out as knowledge-based economy

September 8, 2004

The Taiwan Institute of Economic Research, in a research report on the nation's research and development and innovation global competitiveness, points out that in 2002 the value of Taiwan's total research and development investments ranked 11th in the world, while its industrial research and development investments ranked 12th. The report also shows that the nation's knowledge-based industry accounted for 29% of its GDP, earning it a ranking behind only Luxembourg, Switzerland, Germany and the United States. These figures demonstrate just how far Taiwan has come in establishing itself as a knowledge-based economy.

The TIER report also reveals that in 2002 total research and development expenditures in Taiwan were equivalent to 2.3% of the nation's GDP.

A look specifically at the information technology industry shows that this sector's research and development investments accounted for 22.2% of all research and development investments in Taiwan in 2002, up from 18.2% in 2001. This trend is evidenced by the decisions of such big-time IT manufacturers as Hon Hai, ASUSTek, Quanta and Compal to set up research and development centers in Taiwan. Corporate financial reports for 2003 indicate that this trend is continuing.

(Central News Agency)

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