"With a population of 23 million people, Taiwan has evolved to become a highly developed, dynamic, and globally competitive economy. In 2017, Taiwan's gross domestic product (GDP) on a purchasing power parity (PPP) basis was $1.2 trillion, making it the world's 21st largest economy. Its per capita GDP on a PPP basis (a common measurement of living standards) was 15% greater than Japan's and about 75% of the U.S. level. In 2017, Taiwan was the world's 18th largest trading economy. The World Economic Forum ranked Taiwan as the world's 15th most competitive economy in 2017. Taiwan is a major global producer of information and communications technology (ICT) products (e.g., notebook PCs, tablets, smartphones, and computer peripherals) and semiconductors."
CRS In Focus, IF10256