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APR

Taiwan maintained its 4th position in terms of comprehensive competitiveness in 2017, presenting its strong comprehensive strength. In terms of overall economic performance, its GDP reached USD529.58 billion, climbing 1.48% on year with GDP per capita of USD22,500, inflation rate of 1.40% and unemployment rate of 3.96% in 2016. IMF projected that Taiwan’s GDP growth rate would be 2% in 2017. It ranked 9th in terms of overall economic strength, the last position among the “Four Tigers of Asia”. Based on its strong advantages in hi-tech innovation and product exports, especially its per capita patent applications significantly more than any other Asian economy, it ranked 1st in terms of human capital and innovation capability. In terms of infrastructure level, it ranked 6th and maintained the same position as in the previous year. In terms of social development, it maintained its position as in the previous two years and ranked 8th. It climbed 4 positions in terms of commercial and administrative efficiency from a year earlier, ranked 12th, which prevented it from improving its comprehensive competitiveness.

Source: BOAO Forum, 2018