Part 921

Political pressure groups and leaders: Taiwan independence movement, various environmental groups note : debate on Taiwan independence has become acceptable within the mainstream of domestic politics on Taiwan; political liberalization and the increased representation of the opposition Democratic Progressive Party in Taiwan's legislature have opened public debate on the island's national identity; advocates of Taiwan independence, including within the DPP, oppose the ruling party's traditional stand that the island will eventually reunify with mainland China; goals of the Taiwan independence movement include establishing a sovereign nation on Taiwan and entering the UN; other organizations supporting Taiwan independence include the World United Formosans for Independence and the Organization for Taiwan Nation Building

International organization participation: APEC, AsDB, BCIE, ICC, IOC, WCL, WTrO (applicant)

Diplomatic representation in the US: none; unofficial commercial and cultural relations with the people of the US are maintained through a private instrumentality, the Taipei Economic and Cultural Representative Office (TECRO) with headquarters in Taipei and field offices in Washington and 12 other US cities

Diplomatic representation from the US: 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 (2) 709-2000, FAX (2) 702-7675, and in Kao-hsiung at #2 Chung Cheng 3d Road, telephone (7) 224-0154 through 0157, FAX (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 (2) 720-1550, FAX 757-7162

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

Economy

Economy - overview: Taiwan has a dynamic capitalist economy with considerable guidance of investment and foreign trade by government officials 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 less than 4% to GDP, down from 35% in 1952. Traditional labor-intensive industries are steadily being moved off-shore and 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 - $315 billion (1996 est.)

GDP - real growth rate: 5.7% (1996)

GDP - per capita: purchasing power parity - $14,700 (1996 est.)

GDP - composition by sector: agriculture : 3.3% industry: 35.7% services: 61% (1996)

Inflation rate - consumer price index: 3.1% (1996)

Labor force: total: 9.31 million by occupation: services 52%, industry 38%, agriculture 10% (1996 est.)

Unemployment rate: 2.6% (1996)

Budget: revenues: $57.6 billion expenditures: $79.5 billion, including capital expenditures of $NA (1996 est.)

Industries: electronics, textiles, chemicals, clothing, food processing, plywood, sugar milling, cement, shipbuilding, petroleum refining

Industrial production growth rate: 4.1% (1996)

Electricity - capacity: 21.87 million kW (1994)

Electricity - production: 117.16 billion kWh (1994)

Electricity - consumption per capita: 5,270 kWh (1995 est.)

Agriculture - products: rice, wheat, corn, soybeans, vegetables, fruit, tea; pigs, poultry, beef, milk; fish catch increasing, reached 1.4 million metric tons in 1988

Exports: total value: $116 billion (f.o.b., 1996) commodities: machinery and electrical equipment 46.3%, textile products 13.5%, basic metals and articles 8.8%, chemicals 6.7% (1996 est.) partners : US 27.6%, Hong Kong 21.7%, EU countries 15.2%, Japan 10.5% (1994 est.)

Imports: total value: $102.4 billion (c.i.f., 1996) commodities: machinery and electrical equipment 35.5%, chemicals 10.9%, basic metals and articles 10.3%, minerals 9.2% (1996 est.) partners: Japan 30.1%, US 21.7%, EU countries 17.6% (1993 est.)

Debt - external: $600 million (1995 est.)

Economic aid: $NA

Currency: 1 New Taiwan dollar (NT$) = 100 cents

Exchange rates: New Taiwan dollars per US$1 - 27.5 (1996), 27.4 (1995), 26.2 (1994), 26.6 (1993), 25.4 (1992)

Fiscal year: 1 July - 30 June