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Tsai arrives in Palau on Oceans of Democracy 2019 Presidential Visit

President Tsai Ing-wen touched down March 21 in Palau on the first leg of her eight-day Oceans of...

Taiwan occupies an important position in the global economy. It is a top player in the world’s information and communication technology industry as well as a major supplier of goods across the industrial spectrum. According to the World Trade Organization, Taiwan was the 16th largest exporter and 18th largest importer of merchandise in 2017. It was also one of the largest holders of foreign exchange reserves as of December 2017. Taiwan’s gross domestic product per capita reached US$24,337 in 2017. In terms of nominal GDP, Taiwan ranks close to Argentina and Sweden, while Taiwan’s GDP per capita expressed as purchasing power parity is similar to that of Austria and Denmark.

Since the government relocated to Taiwan in 1949, it has exercised jurisdiction over Taiwan proper, Penghu Islands, Kinmen Islands, Matsu Islands and a number of smaller islands, while China has been under the control of the authorities in Beijing. Beginning with the acceleration of Taiwan’s democratization in the late 1980s, many restrictions concerning civil exchanges with China have been lifted. Today, Taiwan is one of the biggest investors in China. In 2017, the value of cross-strait bilateral trade was US$139 billion. In that year, travelers from China made nearly 2.7 million visits to Taiwan, up from 329,204 in 2008.

The Republic of China (Taiwan) is situated in the West Pacific between Japan and the Philippines. Its jurisdiction extends to the archipelagoes of Penghu, Kinmen and Matsu, as well as numerous other islets. The total area of Taiwan proper and its outlying islands is around 36,197 square kilometers.At about the size of the Netherlands, but with a population of some 23 million, Taiwan is more populous than three-quarters of the world’s nations. Taiwan proper has more than its share of natural splendor. Mountain ranges with many peaks reaching over 3,000 meters—including East Asia’s highest, Jade Mountain (Yushan)—and forested foothills occupy more than half of its area.The island also features volcanic mountains, tablelands, coastal plains and basins. The Diaoyutai Islands, which lie northeast of Taiwan, and a number of islands in the South China Sea, including those in the Tungsha (Pratas), Nansha (Spratly), Shisha (Paracel) and Chungsha (Macclesfield Bank) islands, are also part of the territory of the ROC.