page_title: Economy of Taiwan
section_title: Industry
hierarchical_section_title: Economy of Taiwan / Industry
caption_attribution_description: English: Skyline of Kaohsiung, Taiwan at night taken in 2020 中文（台灣）‎: 眺望中華民國高雄市夜景天際線（攝於2020年）
context_page_description: The economy of Taiwan is a developed capitalist economy that ranks as the seventh largest in Asia and 22nd-largest in the world by purchasing power parity. It is included in the advanced economies group by the International Monetary Fund and gauged in the high-income economies group by the World Bank. Taiwan is the most technologically advanced computer microchip maker in the world.
  As of 2018, telecommunication, financial services and utility services are three highest individuals paid sectors in Taiwan. The economy of Taiwan ranks the highest in Asia for 2015 Global Entrepreneurship Index for specific strengths. Most large government-owned banks and industrial firms have been privatized, and now family owned businesses are the streamlined economic factors in Taiwan. With the technocracy-centered economic planning under martial law until 1987, real growth in GDP has averaged about 8% during the past three decades. Exports have grown even faster and since World War II, have provided the primary impetus for industrialization. Inflation and unemployment are low; the trade surplus is substantial; and foreign reserves are the world's fourth largest.
context_section_description: Industrial output has gradually decreased from accounting for over half of Taiwan's GDP in 1986 to just 31% in 2002. Industries have gradually moved to capital and technology-intensive industries from more labor-intensive industries, with electronics and information technology accounting for 35% of the industrial structure. Industry in Taiwan primarily consists of many small and medium-sized enterprises (SME) with fewer large enterprises.
  The "e-Taiwan" project launched by the government seeks to use US$1.83 billion to improve the information and communications infrastructure in Taiwan in five major areas: government, life, business, transport, and broadband. The program seeks to raise industry competitiveness, improve government efficiency, and improve the quality of life, and aims to increase the number of broadband users on the island to 6 million. In 2010, Taiwan's software market grew by 7.1% to reach a value of US$4 billion, accounting for 3.3% of the Asia-Pacific region market value. The digital content production industry grew by 15% in 2009, reaching US$14.03 billion. The optoelectronics industry (including flat panel displays and photovoltaics) totaled NT$2.2 trillion in 2010, a 40% jump from 2009, representing a fifth of the global market share.
caption: Kaohsiung skyline.
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