Diplomatic representation in the US: none; unofficial commercial and cultural relations with the people of the US are maintained through an unofficial instrumentality, the Taipei Economic and Cultural Representative Office (TECRO), which has its headquarters in Taipei and in the US in Washington, DC; there are also branch offices called Taipei Economic and Cultural Office (TECO) in 12 other US cities
Diplomatic representation from the US: none; unofficial commercial and cultural relations with the people on Taiwan are maintained through an unofficial instrumentality - the American Institute in Taiwan (AIT) - which has offices in the US and Taiwan; US office at 1700 N. Moore St., Suite 1700, Arlington, VA 22209-1996, telephone: [1] (703) 525-8474, FAX: [1] (703) 841-1385); Taiwan offices at #7 Lane 134, Hsin Yi Road, Section 3, Taipei, Taiwan, telephone: [886] (2) 2162-2000, FAX: [886] (2) 2162-2251; #2 Chung Cheng 3rd Road, 5th Floor, Kaohsiung, Taiwan, telephone: [886] (7) 238-7744, FAX: [886] (7) 238-5237; and the American Trade Center, Room 3208 International Trade Building, Taipei World Trade Center, 333 Keelung Road Section 1, Taipei, Taiwan 10548, telephone: [886] (2) 2720-1550, FAX: [886] (2) 2757-7162
Flag description:
red with a dark blue rectangle in the upper hoist-side corner
bearing a white sun with 12 triangular rays
Economy Taiwan
Economy - overview:
Taiwan has a dynamic capitalist economy with gradually decreasing
guidance of investment and foreign trade by government authorities.
In keeping with this trend, some large, government-owned banks and
industrial firms are being privatized. Exports have provided the
primary impetus for industrialization. The island runs a trade
surplus, and foreign reserves are the world's third largest. Despite
restrictions cross-strait links, China has overtaken the US to
become Taiwan's largest export market and, in 2006, its
second-largest source of imports after Japan. China is also the
island's number one destination for foreign direct investment.
Strong trade performance in 2006 pushed Taiwan's GDP growth rate
above 4%, and unemployment is below 4%. Consumer spending recovered
following a slowdown early in 2006, when banks tightened lending to
address a sharp increase in delinquent consumer debt.
GDP (purchasing power parity):
$668.3 billion (2006 est.)
GDP (official exchange rate):
$353.9 billion (2006 est.)
GDP - real growth rate:
4.4% (2006 est.)
GDP - per capita (PPP):
$29,000 (2006 est.)
GDP - composition by sector: agriculture: 1.5% industry: 25.2% services: 73.3% (2006 est.)