Earlier exit from the crisis likely, but challenges ahead
MEDIUM RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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GDP |
USD610.78bn (IMF 2019) |
Population |
23.76mn, (IMF 2019) |
Form of state |
Multiparty Democracy |
Head of government |
Tsai Ing-wen (President) |
Next elections |
January 2024, presidential and legislative |
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- Functioning, stable democracy with robust institutions
- Good record of sound economic management, pro-business environment, well-trained workforce
- Demonstrated economic flexibility, enabling rapid shifts along the value-added scale
- High domestic savings and investment
- Very strong external liquidity
![](/content/dam/onemarketing/ehndbx/eulerhermes_com/en_gl/erd/icon/minus.png)
- Increasingly tense (geo)political relationship with mainland China
- Highly dependent on demand from mainland China, Hong Kong and the U.S. (export-dependent economy)
- Openness of the economy leaves it vulnerable to external demand shocks
- Heavy concentration in the IT/electronics sector
Trade structure by destination/origin
(% of total)
Exports | Rank | Imports |
---|---|---|
China
25%
![]() |
1 |
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China, Hong Kong SAR
14%
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2 |
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United States
12%
![]() |
3 |
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Japan
7%
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4 |
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Singapore
6%
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5 |
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Trade structure by product
(% of total)
Exports | Rank | Imports |
---|---|---|
Electrical machinery and apparatus
34%
|
1 |
19%
Electrical machinery and apparatus
|
Telecom and sound recording apparatus
5%
|
2 |
11%
Petroleum products and related materials
|
Professionnal and scientific instuments
5%
|
3 |
6%
Specialised machinery
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Miscellaneous manufactured articles
5%
|
4 |
4%
Professional and scientific instruments
|
Plastics in primary forms
4%
|
5 |
4%
Organic chemicals
|
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