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Taiwan

Taiwan has a dynamic capitalist economy with gradually decreasing government guidance of investment and foreign trade. In keeping with this trend, some large, state-owned banks and industrial firms have been privatized. Exports, led by electronics and machinery, generate about 70% of Taiwan's GDP growth, and have provided the primary impetus for economic development. This heavy dependence on exports makes the economy vulnerable to downturns in world demand. In 2009, Taiwan's GDP fell by 2.5%, due primarily to a 20% year-on-year decline in exports. Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are major long-term challenges.
Economy of Taiwan
Currency New Taiwan Dollar
Fiscal Year 01 January - 31 December
GDP (PPP) $717.7 billion (2009 est.)
GDP (per capita) $29,800 (2009 est.)
Exports $203.7 billion (2009 est.)
Imports $174.7 billion (2009 est.)
Main Industries Electronics, Communications and Information Technology Products, Petroleum Refining, Armaments, Chemicals, Textiles, Iron and Steel, Machinery, Cement, Food Processing, Vehicles, Consumer Products, Pharmaceuticals
Exports - Commodities Electronics, Flat Panels, Machinery; Metals; Textiles, Plastics, Chemicals; Optical, Photographic, Measuring, and Medical Instruments
Imports - Commodities Electronics, Machinery, Crude Petroleum, Precision Instruments, Organic Chemicals, Metals
Exports Partners China 26.6%, Hong Kong 14.4%, US 11.6%, Japan 7.2%, Singapore 4.2% (2009 est.)
Imports Partners Japan 20.7%, China 14%, US 10.3%, South Korea 6%, Saudi Arabia 4.8% (2009 est.)