through
a private instrumentality, the Taipei Economic and Cultural
Representative Office (TECRO) with headquarters in Taipei and field
offices in Washington and 10 other US cities

US diplomatic representation: none; 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,
telephone [886] (2) 709-2000, FAX [886] (2) 702-7675, and in
Kao-hsiung at #2 Chung Cheng 3d Road, telephone [886] (7) 224-0154
through 0157, FAX [886] (7) 223-8237, and the American Trade Center
at Room 3207 International Trade Building, Taipei World Trade
Center, 333 Keelung Road Section 1, Taipei 10548, telephone [886]
(2) 720-1550

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

Economy
-------

Economic 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 GDP has averaged about 9% a year during the
past three decades. Export growth has been even faster and has
provided the impetus for industrialization. Inflation and
unemployment are low. Agriculture contributes about 4% to GDP, 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. Taiwan has become a major investor in China, Thailand,
Indonesia, the Philippines, Malaysia, and Vietnam. The tightening of
labor markets has led to an influx of foreign workers, both legal
and illegal.

GDP: purchasing power parity - $290.5 billion (1995 est.)

GDP real growth rate: 6% (1995 est.)

GDP per capita: $13,510 (1995 est.)

GDP composition by sector:
agriculture: 3.6%
industry: 37.3%
services: 59.1% (1994 est.)

Inflation rate (consumer prices): 4% (1995 est.)

Labor force: 8.874 million
by occupation: services 49%, industry 39%, agriculture 11% (1993
est.)

Unemployment rate: 1.6% (1995)

Budget:
revenues: $30.3 billion
expenditures: $30.1 billion, including capital expenditures of $NA
(1991 est.)

Industries: electronics, textiles, chemicals, clothing, food
proces