Taiwan Economic Status and International relation
Taiwan did not record any major deterioration in either public finance or external accounts, and even grew stronger in macroeconomic performance in 2020 to 2021 during the time of Covid-19. In 2023, Taiwan was 16th largest exporter (export 432 billion dollars) and 21th largest importer (import 351 billion dollars) with a positive annual growth in the trade gap according to the World Trade Organization (WTO). Taiwan is one of the world’s top 20 economies in terms of Gross Domestic Product (GDP). Global Finance magazine based on GDP per capital adjusted for purchasing power and data from the International Monetary Fund (IMF) announce Taiwan ranking 15th riches country among 196 countries in 2024.
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