Singapore vs Taiwan: Economic Indicators Comparison

Taiwan with a GDP of $585.8B ranked the 21st largest economy in the world, while Singapore ranked 36th with $364.2B. By GDP 5-years average growth and GDP per capita, Taiwan and Singapore ranked 115th vs 76th and 38th vs 10th, respectively.

Gross Domestic Product & Income

Stat	Singapore	Taiwan
GDP	$364.2B	$585.8B
GDP growth, 1 year	3.2%	2.6%
GDP growth, 5-years average	3.3%	2.4%
Population	5.9M	23.6M
GDP per capita	$65k	$25k
GDP per capita growth	2.66%	N/A
Purchasing Power Parity conversion factor	0.86	N/A
Price level ratio of PPP conversion factor GDP to market exchange rate	0.64	N/A
GDP per capita, PPP adjusted	$100k	$53k
GNI, Atlas method	$331.4B	N/A
GNI per capita	$59k	N/A
GNI, PPP adjusted	$533.8B	N/A
GNI per capita, PPP adjusted	$95k	N/A

Financial system and Human development

Stat	Singapore	Taiwan
Income Tax Rate	22%	45%
Corporate Tax Rate	17%	20%
Inflation, consumer prices	0.4%	1.5%
Inflation, GDP deflator	1.9%	N/A
Unemployment	3.8%	3.7%
Economic Freedom Index	89.4	77.1
Personal Freedom Index	7.44	8.09
Human Freedom Index	8.1	7.79
Property Rights Index	96.8	86.9
Judical Effectiveness Index	92.9	70.1
Business Freedom Index	92.8	93.9
Fiscal Health Index	80	91
Labor Freedom Index	90.9	60.3
Investment Freedom Index	85	60
Financial Freedom Index	80	60
Trade Freedom Index	94.8	86
Monetary Freedom Index	85.6	82.7
Government Spending Index	91.1	90.5
Tax Burden Index	90.3	75
Government Integrity Index	92.4	68.9
Corruption Perceptions Index	85	63
Life expectancy at birth, years	82.9	80.2
Suicide mortality rate, per 100,000 people	9.9	12.5
Mortality caused by road traffic injury, per 100,000 people	2.8	6.3
Intentional homicides, per 100,000 people	0.2	0.8
International tourism, number of arrivals	14.7M	N/A

Government debt & reserves

Stat	Singapore	Taiwan
Central government debt, % of GDP	108.3%	35%
External debt stocks, % of GNI	N/A	N/A
External debt stocks	N/A	N/A
Short-term debt, % of total reserves	N/A	N/A
Total debt service, % of exports and primary income	N/A	N/A
Adjusted net savings including particulate emission damage, % of GNI	36.8%	N/A
Gross savings, % of GDP	45.8%	N/A
Gross capital formation, % of GDP	26.6%	N/A
Total reserves including gold	$292.7B	N/A
Foreign direct investment net inflows	$82B	N/A

Exports, imports and economic structure

Stat	Singapore	Taiwan
Exports of goods and services, % of GDP	176.4%	N/A
Imports of goods and services, % of GDP	149.8%	N/A
Current account balance (balance of payments)	$65.1B	N/A
Revenue excluding grants, % of GDP	18.8%	N/A
Grants excluding technical cooperation, BoP	$1.6M	N/A
Personal remittances received	N/A	N/A
Industry including construction value added, % of GDP	25.2%	N/A
Agriculture, forestry and fishing value added, % of GDP	0%	N/A
Charges for the use of intellectual property, payments BoP	$15.2B	N/A
Charges for the use of intellectual property, receipts BoP	$8.7B	N/A
Expense, % of GDP	15.2%	N/A
Government Expenditure, % of GDP	17.2%	17.8%