Key Economic Figures

Export

·   Taiwan was Denmark's 28th largest export market in 2023, with a total export revenue of 11.2 billion DKK, accounting for 0.6% of Denmark's total export revenues. (BB)

·   In 2023, Taiwan was Denmark's 25th largest export market for goods, with 7.3 billion DKK (0.7%), and the 31st largest export market for services, with 3.9 billion DKK (0.5%). (BB)

·     Export of goods to Taiwan increased by 9.4% in 2023 compared to 2022. (BB)

·      The largest export commodity group in 2023 was power machinery and engines (2.56 billion DKK). (UHV)

·  In the first five months of 2024, Danish goods exports to Taiwan amounted to 2.24 billion DKK, representing a 9.9% decrease compared to the same period in 2023 (2.49 billion DKK). (UHV)

Import

·  The import of goods and services from Taiwan amounted to 5.0 billion DKK in 2023, equivalent to 0.3% of Denmark's total imports. (BB)

·  Goods imports from Taiwan were 3.8 billion DKK in 2023, which is a 23.6%decrease compared to 2022. (BB)

·       The largest import commodity group in 2023 was other transport equipment (492.3 million DKK). (UHV)

·       In the first five months of 2024, Danish goods imports from Taiwan amounted to 1.16 billion DKK, representing a 41.4% decrease compared to the same period in 2023 (1.99 billion DKK). (UHV)

Investments and subsidiaries

·  Data on direct investments between Denmark and Taiwan is not   available.

·  Data on direct investments between Taiwan and Denmark is not   available.

·      In 2022, there were 57 Danish subsidiaries in Taiwan, employing a total   of 3,925 people in the country.

Economic key figures for Taiwan

·     Taiwan was the world's 23rd largest economy in 2023 with a GDP of 755 billion USD.

·       In 2023 the country had a population of 23,3 million

·       According to the World Bank's 2023 classification, Taiwan belongs to the group of High income countries. The GDP per capita of the country was 32.448 USD in 2023.

·       In 2025 the real growth rate in GDP is expected to be 3,1 pct., and over the following two years real GDP is expected to grow at a rate of 3,0 pct. p.a.

·       In 2023 the current account had a surplus of 13,7 pct. of GDP. Towards 2026, the current account is expected to strongly improve and the surplus increases further.

·       In 2023 the government budget balance had a deficit of 0,6 pct. Towards 2026, the budget balance is expected to weakly worsen and the deficit increases further.

·       Total government debt is expected to be 24,6 pct. of GDP in 2026.