Macroeconomic Outlook Report: Taiwan (Province of China)
Summary
Mining, manufacturing, and utilities activities contributed 34.7% to Taiwan (Province of China)’s gross value added (GVA) in 2024, followed by financial intermediation, real estate, and business activities (19.1%) and wholesale, retail, and hotels activities (19.0%). In nominal terms, the three sectors are forecast to grow by 4.1%, 4.3%, and 4.4%, respectively, in 2025.
Taipei is home to 10.6% of Taiwan (Province of China)’s population and accounts for 10.7% of GDP as of 2024, according to MarketLine estimates.
As of October 2024, Taiwan (Province of China) began a $4.3 billion highway widening project on National Freeway No1. The 44km section from Yangmei to Toufen will be expanded with additional lanes and a tunnel. Construction was approved in December 2023, and completion is expected by 2033.
Scope
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