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Taiwan export orders up year on year for December 2019

Taiwan’s export orders increased 0.9 percent year on year for December 2019 to US$43.78 billion, the first monthly rise in four quarters, according to the Ministry of Economic Affairs Jan. 20.

Traditional Chinese characters are a treasured cultural legacy and product of thousands of years of linguistic evolution. In modern Taiwan, traditional Chinese characters are utilized as the written form of Mandarin, one of the nation’s official languages.

Taiwan is renowned for its fascinating blend of traditional and modern culture. To showcase the nation’s history and cultural diversity, museums have been established across Taiwan, including National Palace Museum, National Taiwan Museum and National Museum of History. Traditional architecture abounds, not only in the country’s magnificent temples, but also in the many old structures that have been revitalized for use as community centers, cafes, stores and other public spaces. In fact, many aspects of traditional Chinese arts, crafts and customs are better preserved in Taiwan than anywhere else. For example, Taiwan is one of the few places still using traditional Chinese characters, and calligraphy competitions are always popular events.

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.