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Income equality (Gini index) 33.6 2014 111 175 [11] Industrial growth rate: 2.00% 2017 127 203 [12] Labor force: 11,640,000 2017 50 233 [13] Unemployment rate: 3.8% 2017 47 217 [14] Index of Economic Freedom: 80.7 2023 4 177 [15] The Global Competitiveness Index 2017–18 15 137 [16]
The economy has since slowly recovered; by November 2010, Taiwan's unemployment rate had fallen to a two-year low of 4.73%, [48] and continued dropping to a 40-month low of 4.18% by the end of 2011. [49]
The figures are from the International Monetary Fund (IMF) World Economic Outlook Database, unless otherwise specified. [1] This list is not to be confused with the list of countries by real GDP per capita growth, which is the percentage change of GDP per person taking into account the changing population of the country.
For the most part, Taiwan's economy during the Japanese rule period was a colonial economy. For example, the human and natural resources of Taiwan were used to aid both the economic and military development of Japan. This policy began under Governor-General Kodama GentarÅ and reached its peak in 1943, in the middle of World War II
Taiwan's central bank will likely keep its policy rate steady at a record low this week as the economy booms on global tech demand fuelled by the work-from-home trend, despite a spike in COVID-19 ...
Income from black market economic activity is not included. The Gini coefficient is a number between 0 and 1 or 100, where 0 represents perfect equality (everyone has the same income). Meanwhile, an index of 1 or 100 implies perfect inequality (one person has all the income, and everyone else has no income).
"Taiwan matters far more to the world economy than its 1% share of global GDP would indicate," Gareth Leather, Senior Economist in the Emerging Asia team at Capital Economics, wrote in a note.
[7] [8] Since China's transition to a socialist market economy through controlled privatisation and deregulation, [9] [10] the country has seen its ranking increase from ninth in 1978, to second in 2010; China's economic growth accelerated during this period and its share of global nominal GDP surged from 2% in 1980 to 18% in 2021. [8] [1] [11]