Industrial Figures: Taiwan Doubles Economic Strength, Sheds 'One-China' Dependence in 10 Years of DPP Rule
As President Lai Ching-te's second inauguration anniversary approaches, marking 10 years of DPP governance since the 2016 power transition, industrial and economic figures stated today that Taiwan's gradual reduction of dependence on the Chinese market and pivot to global deployment over the past decade has not only led to massive growth in GDP, exports, and capital markets but also concurrent improvements in democracy, freedom, and social welfare, making its overall national strength vastly different from 10 years ago.
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- 📰 Published: May 19, 2026 at 18:31
- 🔍 Collected: May 19, 2026 at 19:01 (30 min after Published)
- 🤖 AI Analyzed: May 19, 2026 at 19:17 (15 min after Collected)
Tomorrow marks the second anniversary of President Lai Ching-te's inauguration and the 10th anniversary of the Democratic Progressive Party's (DPP) governance since the 2016 change in ruling party. Industrial and economic figures stated today that over the past decade, Taiwan has gradually reduced its dependence on the Chinese market and shifted towards a global strategy. This has not only spurred significant growth in GDP, exports, and capital markets but has also seen a simultaneous rise in indicators of democracy, freedom, and social welfare, making the nation's overall strength vastly different from a decade ago.
According to the latest statistics, Taiwan's GDP is projected to exceed US$1.28 trillion in 2026, more than doubling from US$0.52 trillion in 2015, placing it among the world's top 20 economies. Overall national strength, social welfare, and international competitiveness have all seen substantial improvements compared to 10 years ago.
Macroeconomic experts state that over the past 10 years, Taiwan has abandoned its previous policy centered on a "One-China framework" and "One-China market." Instead, it has pivoted to fully integrate with global markets and supply chains, driving leapfrog growth in the macroeconomy, exports, capital markets, and international ratings, and securing Taiwan's key position in the global tech and AI supply chains.
Analysis indicates that before 2016, Taiwan's economy was long constrained by its high dependence on the Chinese market, facing problems of talent and capital outflow and industrial hollowing-out. Economic growth back then was barely aiming to "secure 1%." Ten years later, the Directorate-General of Budget, Accounting and Statistics (DGBAS) projects an economic growth rate of 7.71% for 2026. Per capita GDP has nearly doubled from about US$23,000 in 2016 to US$44,181, officially entering the upper ranks of high-income nations.
Export performance has also grown substantially. In 2016, Taiwan's total annual exports were about US$279.2 billion, long lagging behind other Asian Tigers. By 2025, total exports surged to US$640.7 billion, a 34.9% year-on-year increase, setting a historic high and surpassing Singapore for the first time in 23 years. Compared to 2016, the export scale has grown by an impressive 129.5%.
In the capital markets, the TAIEX was at about 8,085 points on May 19, 2016, with a sluggish market atmosphere. By May 2026, the TAIEX broke through 40,000 points, once hitting a historic high of 42,408. The total market capitalization of listed companies also grew massively from about NT$24 trillion 10 years ago to over NT$100 trillion, raising its global ranking to 6th.
Industrial and economic figures believe the key lies in a fundamental shift in investment and export structures. In 2013, Taiwanese investment in China accounted for over 60% of total outbound investment. However, as the government promoted supply chain de-risking and global deployment, the proportion of investment in China fell to 11.4% in 2023 and recently hit a new low of 3.8%. Investment focus has gradually shifted to ASEAN, the US, Japan, and European markets.
Export markets have also seen a historic reversal. According to statistics, the share of exports to China and Hong Kong once exceeded 41%, while exports to the US were long below 12%. By 2025, the share of exports to China and Hong Kong had dropped to 26.6%, while exports to the US climbed to 30.9%, surpassing the combined total for China and Hong Kong for the first time, symbolizing Taiwan's gradual escape from dependence on a single market.
In the tech industry, TSMC's global foundry market share increased from about 55% in 2016 to 69.9% in 2025, maintaining its advantage in advanced manufacturing processes and becoming the core of the global AI and semiconductor supply chains.
In terms of public livelihood and social welfare, the government has raised the minimum wage for 10 consecutive years. The monthly salary increased from NT$20,008 in 2016 to NT$29,500 in 2026, and the hourly wage rose from NT$120 to NT$196. Budgets for long-term care and childcare have also been significantly expanded. The long-term care budget grew from about NT$5.4 billion in 2016 to NT$115.3 billion in 2026, with service coverage reaching 80%.
In international rankings, Taiwan placed 5th globally and 2nd in Asia in The Heritage Foundation's 2026 Index of Economic Freedom. In the 2025 IMD World Competitiveness ranking, Taiwan was 6th globally and has been ranked 1st in the world for five consecutive years among economies with a population over 20 million.
Democracy and freedom indicators have also improved. According to the Reporters Without Borders' World Press Freedom Index, Taiwan ranked 51st globally in 2016 and has been ranked 1st in Asia for five consecutive years recently.
Industrial and economic figures believe the data shows that Taiwan has progressively forged a new path over the past decade, not only establishing a key global position in technology and economy but also continuing to deepen its democratic rule of law and social resilience.
According to the latest statistics, Taiwan's GDP is projected to exceed US$1.28 trillion in 2026, more than doubling from US$0.52 trillion in 2015, placing it among the world's top 20 economies. Overall national strength, social welfare, and international competitiveness have all seen substantial improvements compared to 10 years ago.
Macroeconomic experts state that over the past 10 years, Taiwan has abandoned its previous policy centered on a "One-China framework" and "One-China market." Instead, it has pivoted to fully integrate with global markets and supply chains, driving leapfrog growth in the macroeconomy, exports, capital markets, and international ratings, and securing Taiwan's key position in the global tech and AI supply chains.
Analysis indicates that before 2016, Taiwan's economy was long constrained by its high dependence on the Chinese market, facing problems of talent and capital outflow and industrial hollowing-out. Economic growth back then was barely aiming to "secure 1%." Ten years later, the Directorate-General of Budget, Accounting and Statistics (DGBAS) projects an economic growth rate of 7.71% for 2026. Per capita GDP has nearly doubled from about US$23,000 in 2016 to US$44,181, officially entering the upper ranks of high-income nations.
Export performance has also grown substantially. In 2016, Taiwan's total annual exports were about US$279.2 billion, long lagging behind other Asian Tigers. By 2025, total exports surged to US$640.7 billion, a 34.9% year-on-year increase, setting a historic high and surpassing Singapore for the first time in 23 years. Compared to 2016, the export scale has grown by an impressive 129.5%.
In the capital markets, the TAIEX was at about 8,085 points on May 19, 2016, with a sluggish market atmosphere. By May 2026, the TAIEX broke through 40,000 points, once hitting a historic high of 42,408. The total market capitalization of listed companies also grew massively from about NT$24 trillion 10 years ago to over NT$100 trillion, raising its global ranking to 6th.
Industrial and economic figures believe the key lies in a fundamental shift in investment and export structures. In 2013, Taiwanese investment in China accounted for over 60% of total outbound investment. However, as the government promoted supply chain de-risking and global deployment, the proportion of investment in China fell to 11.4% in 2023 and recently hit a new low of 3.8%. Investment focus has gradually shifted to ASEAN, the US, Japan, and European markets.
Export markets have also seen a historic reversal. According to statistics, the share of exports to China and Hong Kong once exceeded 41%, while exports to the US were long below 12%. By 2025, the share of exports to China and Hong Kong had dropped to 26.6%, while exports to the US climbed to 30.9%, surpassing the combined total for China and Hong Kong for the first time, symbolizing Taiwan's gradual escape from dependence on a single market.
In the tech industry, TSMC's global foundry market share increased from about 55% in 2016 to 69.9% in 2025, maintaining its advantage in advanced manufacturing processes and becoming the core of the global AI and semiconductor supply chains.
In terms of public livelihood and social welfare, the government has raised the minimum wage for 10 consecutive years. The monthly salary increased from NT$20,008 in 2016 to NT$29,500 in 2026, and the hourly wage rose from NT$120 to NT$196. Budgets for long-term care and childcare have also been significantly expanded. The long-term care budget grew from about NT$5.4 billion in 2016 to NT$115.3 billion in 2026, with service coverage reaching 80%.
In international rankings, Taiwan placed 5th globally and 2nd in Asia in The Heritage Foundation's 2026 Index of Economic Freedom. In the 2025 IMD World Competitiveness ranking, Taiwan was 6th globally and has been ranked 1st in the world for five consecutive years among economies with a population over 20 million.
Democracy and freedom indicators have also improved. According to the Reporters Without Borders' World Press Freedom Index, Taiwan ranked 51st globally in 2016 and has been ranked 1st in Asia for five consecutive years recently.
Industrial and economic figures believe the data shows that Taiwan has progressively forged a new path over the past decade, not only establishing a key global position in technology and economy but also continuing to deepen its democratic rule of law and social resilience.