cil for North American Affairs (CCNAA)
with headquarters in Taipei and field offices in Washington and 10 other US
cities with all addresses and telephone numbers NA;
US--unofficial commercial and cultural relations with the people of Taiwan
are maintained through a private institution, the American Institute in
Taiwan (AIT), which has offices in Taipei at 7 Lane 134, Hsin Yi Road, Section 3
with telephone 002 886o (2) 709-2000 and in Kao-hsiung at 88 Wu Fu 3rd Road
with telephone NA

Flag: red with a dark blue rectangle in the upper hoist-side corner
bearing a white sun with 12 triangular rays

- Economy
Overview: Taiwan has a dynamic capitalist economy with considerable
government guidance of investment and foreign trade and partial
government ownership of some large banks and industrial firms. Real
growth in GNP has averaged about 9% a year during the past three decades.
Export growth has been even faster and has provided the impetus for
industrialization. Agriculture contributes about 6% to GNP, down from 35%
in 1952. Taiwan currently ranks as number 13 among major trading
countries. Traditional labor-intensive industries are steadily being
replaced with more capital- and technology-intensive industries.

GNP: $121.4 billion, per capita $6,000; real growth rate 7.2% (1989)

Inflation rate (consumer prices): 5.0% (1989)

Unemployment rate: 1.7% (1989)

Budget: revenues $25.9 billion; expenditures $33.2 billion,
including capital expenditures of $NA (FY89)

Exports: $66.2 billion (f.o.b., 1989); commodities--textiles
9.7%, electrical machinery 19.0%, general machinery and equipment 14%,
telecommunications equipment 9%, basic metals and metal products 7.4%,
foodstuffs 0.9%, plywood and wood products 1.3%; partners--US 36.2%,
Japan 13.7%

Imports: $52.2 billion (c.i.f., 1989); commodities--machinery
and equipment 15.9%, crude oil 5%, chemical and chemical products 11.1%,
basic metals 7.4%, foodstuffs 2.0%; partners--Japan 31%, US 23%,
Saudi Arabia 8.6%

External debt: $1.0 billion (December 1989 est.)

Industrial production: growth rate 4.1% (1988)

Electricity: 17,000,000 kW capacity; 68,000 million kWh produced,
3,360 kWh per capita (1989)

Industries: textiles, clothing, chemicals, electronics, food processing,
plywood, sugar milling, cement, shipbuilding, petroleum

Agriculture: accounts for 6% of GNP and 20% of labor force (includes
part-time farmers); heavily subsidized sector; major crops--rice,