South Korea vs Taiwan: Economic Indicators Comparison

South Korea with a GDP of $1.6T ranked the 12th largest economy in the world, while Taiwan ranked 21st with $585.8B. By GDP 5-years average growth and GDP per capita, South Korea and Taiwan ranked 93rd vs 115th and 33rd vs 38th, respectively.

Gross Domestic Product & Income

Stat	South Korea	Taiwan
GDP	$1.6T	$585.8B
GDP growth, 1 year	2.7%	2.6%
GDP growth, 5-years average	3%	2.4%
Population	51.5M	23.6M
GDP per capita	$31k	$25k
GDP per capita growth	2.33%	N/A
Purchasing Power Parity conversion factor	860.51	N/A
Price level ratio of PPP conversion factor GDP to market exchange rate	0.78	N/A
GDP per capita, PPP adjusted	$41k	$53k
GNI, Atlas method	$1.6T	N/A
GNI per capita	$31k	N/A
GNI, PPP adjusted	$2.1T	N/A
GNI per capita, PPP adjusted	$40k	N/A

Financial system and Human development

Stat	South Korea	Taiwan
Income Tax Rate	42%	45%
Corporate Tax Rate	25%	20%
Inflation, consumer prices	1.5%	1.5%
Inflation, GDP deflator	0.3%	N/A
Unemployment	3.8%	3.7%
Economic Freedom Index	74	77.1
Personal Freedom Index	8.84	8.09
Human Freedom Index	8.15	7.79
Property Rights Index	82.5	86.9
Judical Effectiveness Index	61	70.1
Business Freedom Index	90.5	93.9
Fiscal Health Index	96.7	91
Labor Freedom Index	56.2	60.3
Investment Freedom Index	70	60
Financial Freedom Index	70	60
Trade Freedom Index	80	86
Monetary Freedom Index	82.1	82.7
Government Spending Index	67.7	90.5
Tax Burden Index	63.9	75
Government Integrity Index	67.5	68.9
Corruption Perceptions Index	57	63
Life expectancy at birth, years	82.6	80.2
Suicide mortality rate, per 100,000 people	26.9	12.5
Mortality caused by road traffic injury, per 100,000 people	9.8	6.3
Intentional homicides, per 100,000 people	0.6	0.8
International tourism, number of arrivals	15.3M	N/A

Government debt & reserves

Stat	South Korea	Taiwan
Central government debt, % of GDP	40.7%	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	20.1%	N/A
Gross savings, % of GDP	34.7%	N/A
Gross capital formation, % of GDP	30.2%	N/A
Total reserves including gold	$403.1B	N/A
Foreign direct investment net inflows	$14.5B	N/A

Exports, imports and economic structure

Stat	South Korea	Taiwan
Exports of goods and services, % of GDP	44%	N/A
Imports of goods and services, % of GDP	39%	N/A
Current account balance (balance of payments)	$76.4B	N/A
Revenue excluding grants, % of GDP	27.8%	N/A
Grants excluding technical cooperation, BoP	$6.7M	N/A
Personal remittances received	$7.1B	N/A
Industry including construction value added, % of GDP	35.1%	N/A
Agriculture, forestry and fishing value added, % of GDP	2%	N/A
Charges for the use of intellectual property, payments BoP	$9.9B	N/A
Charges for the use of intellectual property, receipts BoP	$7.8B	N/A
Expense, % of GDP	25.4%	N/A
Government Expenditure, % of GDP	32.8%	17.8%