through a private instrumentality, the Coordination Council
for North American Affairs (CCNAA) with headquarters in Taipei and field
offices in Washington and 10 other US cities
US diplomatic representation:
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, Hsiu Yi Road, Section 3,
telephone [886] (2) 709-2000, and in Kao-hsiung at #2 Chung Cheng 3d Road,
telephone [886] (7) 224-0154 through 0157, 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

*Taiwan, 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 4% 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. Taiwan has become a major investor in China, Thailand,
Indonesia, the Philippines, and Malaysia. The tightening of labor markets
has led to an influx of foreign workers, both legal and illegal.
National product:
GNP - purchasing power equivalent - $209 billion (1992 est.)
National product real growth rate:
6.7% (1992 est.)
National product per capita:
$10,000 (1992 est.)
Inflation rate (consumer prices):
4.4% (1992 est.)
Unemployment rate:
1.6% (1992 est.)
Budget:
revenues $30.3 billion; expenditures $30.1 billion, including capital
expenditures of $NA (FY91 est.)
Exports:
$82.4 billion (f.o.b., 1992 est.)
commodities:
electrical machinery 18.5%, textiles 14.7%, general machinery and equipment
17.7%, footwear 4.5%, foodstuffs 1.1%, plywood and wood products 1.1% (1992
est.)
partners:
US 29.1%, Hong Kong 18.7%, EC countries 17.1% (1992 est.)
Imports:
$72.1 billion (c.i.f., 1992 est.)
commodit