Doing Business in Taiwan | The British Chamber of Commerce in Taipei

Why Taiwan?

Taiwan is an advanced, high-tech economy with a strategic location in the Asia Pacific region. It has modern infrastructure and its banking, insurance and securities sectors are being liberalised.

Stable business environment

Taiwan is a stable market economy that showed robust growth in 2020, despite the global impact of COVID-19. The Taiwanese are well-educated, with 45% of people aged 25 to 64 holding a bachelor’s degree or higher.

Hi-tech world leaders

Taiwanese firms are world leaders in high-tech manufacturing sectors such as semiconductors, laptops, servers, and smartphone components. Taiwan is also home to the contract manufacturing giants TSMC and Foxconn. Decades of investment and research has given Taiwan a central position in global technology supply chains.

Future strategic industries

In 2020, Taiwan outlined its ‘Six Core Strategic Industries’: digital technology, cyber security, medical technology and precision health, green and renewable energy, national defence and strategic industries, and strategic stockpile industries. These industries are aligned with the UK’s 2021 ‘Build Back Better’: the UK plan for growth.

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This video explains why Taiwan is a great choice to start or expand your business.

Taiwan GDP Annual Growth Rate

Taiwan’s economy expanded by 5.37% in the first quarter of 2025, significantly surpassing market expectations of 3.3% and up from 2.9% in the previous quarter, according to an advance estimate. The strong growth was driven by robust domestic demand and a positive contribution from net external demand. Private consumption rose 1.22% (vs. 2.49% in Q4 2024), primarily supported by spending on services such as dining, entertainment, and outbound tourism. Gross capital formation increased by 14.72% (vs. 19.20%), fueled by higher investment in machinery, construction, and intellectual property products, while public spending grew by 0.53% (vs. 2.14%). Meanwhile, exports of goods and services surged 20.11% (vs. 8.9%), reflecting strong demand for electronic information and communication products, while imports also rose significantly by 23.66% (vs. 18.31%). On a seasonally adjusted annualized basis, GDP growth accelerated to 9.67% in Q1 2025, up from 6.64% in the previous quarter.

TW_GDP_Annual_Growth_Rate 2025
source: tradingeconomics.com

Taiwan’s economy is export oriented. As such, manufacturing is crucial and accounts for around 31 percent of GDP. Like in most advanced economies, the services sector is the biggest and constitutes nearly 65 percent of GDP. Within services, the most important are wholesale and retail trade (17.3 percent of GDP); real estate (8 percent of GDP); and public administration and defense (6.4 percent of GDP).

Source: National Statistics, Republic of China