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MOFA thanks US Congress for passing legislation backing Taiwan

The passage of legislation by the U.S. Congress reaffirming support for Taiwan is deeply...

Education is an important component of government policymaking and accounts for a large portion of the budget. With an increasing emphasis on attaining tertiary education, those with a technical college or university degree account for 45 percent of Taiwan’s population aged 15 and above, a 10 percentage point increase over the past decade.

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.

In April 2014, the National Science Council—the government’s dedicated agency charged with advancing science and technology development, supporting academic research and promoting the nation’s three science parks—was reorganized and renamed as the Ministry of Science and Technology. While continuing its predecessor’s innovative measures and programs, the MOST, with a new organizational structure, aims to focus academic research on the needs of industry as Taiwan relies on science and technology innovation as a key driver of economic growth and national progress.