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• GDP: US$375.6 billion (2007).
• Main imports: Machinery and electrical equipment, minerals and precision instruments.
• Main exports: Computer products, electrical equipment, metals, plastic and rubber products, and chemicals.
• Main trade partners: Australia, China (PR), Germany, Hong Kong (SAR) and Japan.
• Main imports: Machinery and electrical equipment, minerals and precision instruments.
• Main exports: Computer products, electrical equipment, metals, plastic and rubber products, and chemicals.
• Main trade partners: Australia, China (PR), Germany, Hong Kong (SAR) and Japan.
Economy
Taiwan was one of the first 'tiger economies' of the Pacific basin, enjoying phenomenal growth from the 1950s onwards.
Its success was built on a policy of rapid industrialisation coupled with low overheads and labour costs rather than raw materials, of which there is a dearth. Massive foreign currency reserves accumulated over the years have since helped Taiwan to minimise the effects of turbulence in the world economy.
After a brief recession in 2000/01, the economy is growing at a healthy rate (5.5% in 2007). The performance of the Taiwanese economy is significantly affected by external political and economic conditions, especially in China (PR). In January 2002, Taiwan was admitted to the World Trade Organisation.
Its success was built on a policy of rapid industrialisation coupled with low overheads and labour costs rather than raw materials, of which there is a dearth. Massive foreign currency reserves accumulated over the years have since helped Taiwan to minimise the effects of turbulence in the world economy.
After a brief recession in 2000/01, the economy is growing at a healthy rate (5.5% in 2007). The performance of the Taiwanese economy is significantly affected by external political and economic conditions, especially in China (PR). In January 2002, Taiwan was admitted to the World Trade Organisation.
Business Etiquette
Office Hours: Mon-Fri 0830/0900-1730.
Conferences & Conventions
There is a wide range of convention facilities, including the vast Taipei World Trade Center Complex which houses the Exhibition Hall, the Grand Hyatt Taipei, the International Trade Building and the Taipei International Convention Center. Hotels offer a comprehensive range of facilities and there are some with seating for 1,000 and over.
Business Contacts
Ministry of Economic Affairs (ROC)
15 Fu Chou Street, Taipei 100, Taiwan
Tel: (2) 2321 2200.
Website: http://isc01.moea.gov.tw
Taiwan External Trade Development Council (TAITRA)
333 Keelung Road, Section 1, Taipei 110, Taiwan
Tel: (2) 2725 5200.
Website: www.taiwantrade.com/tw
Taiwan Convention Association (TCA) (Information on Conferences/Conventions)
1 Hsin-Yi Road, Section 5, Taipei 110, Taiwan
Tel: (2) 2725 5200.
Website: www.ticc.com.tw
15 Fu Chou Street, Taipei 100, Taiwan
Tel: (2) 2321 2200.
Website: http://isc01.moea.gov.tw
Taiwan External Trade Development Council (TAITRA)
333 Keelung Road, Section 1, Taipei 110, Taiwan
Tel: (2) 2725 5200.
Website: www.taiwantrade.com/tw
Taiwan Convention Association (TCA) (Information on Conferences/Conventions)
1 Hsin-Yi Road, Section 5, Taipei 110, Taiwan
Tel: (2) 2725 5200.
Website: www.ticc.com.tw
