One reason for the improvement was United States economic and military assistance. Taiwan's industry specialized in such products as textiles, radios, television sets, tape recorders, appliances, toys, and many other consumer goods. These are still the mainstays of the economy, but they have been supplemented by some heavy industry, including the manufacture of automobiles, iron and steel, and refined petroleum products. The Taiwan government has been promoting the development of high-technology industry, such as the production of computers, calculators, and related products, in order to remain competitive in world markets. The main markets for Taiwan's products are the United States, the nations of the European Union, and Japan.
Exports account for more than half of Taiwan's gross national product.
Agriculture on the island, while declining in relative importance, has made major advances since 1950. At the end of the Japanese colonial era, Taiwanese farming was based mainly on rice and sugarcane. Today the agricultural base is greatly diversified. Although rice remains the single most important crop and the mainstay of the people's diet, many other crops have become significant for both the domestic market and for export. These include sugar, many kinds of vegetables, and a variety of fruits.