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Economy of Taiwan vs Tonga compared: GDP & Debt

Updated on by Georank team

Taiwan has a GDP of $802B compared to $591M for Tonga, ranking 22/197 and 191/197 by economy size, respectively.

Taiwan has $211B in government debt (26.3% of GDP), compared to $256M (37% of GDP) in Tonga.

Taiwan vs Tonga GDP by year

Taiwan
Tonga
1x
Year GDP, current $
Taiwan Tonga
2024 $801,529,000,000 -
2023 $757,328,000,000 $591,139,749
2022 $765,529,000,000 $556,514,555
2021 $777,062,000,000 $519,306,353
2020 $676,935,000,000 $506,571,468
2019 $613,453,000,000 $506,031,239
2018 $610,744,000,000 $493,530,783
2017 $591,734,000,000 $459,976,850
2016 $543,002,000,000 $420,828,262
2015 $534,474,000,000 $437,525,514
2014 $535,332,000,000 $440,997,738
2013 $512,957,000,000 $451,788,498
2012 $495,536,000,000 $471,122,971
2011 $483,957,000,000 $414,143,828
2010 $444,245,000,000 $366,887,375
2009 $390,788,000,000 $312,415,028
2008 $415,824,000,000 $344,438,844
2007 $406,940,000,000 $298,519,623
2006 $386,492,000,000 $292,232,703
2005 $374,042,000,000 $261,823,805
2004 $346,881,000,000 $230,678,011
2003 $317,374,000,000 $202,246,591
2002 $307,429,000,000 $182,764,281
2001 $299,303,000,000 $181,117,230
2000 $330,725,000,000 $204,848,488
1999 $303,827,000,000 $199,208,718
1998 $279,926,000,000 $191,504,893
1997 $303,315,000,000 $214,991,452
1996 $292,473,000,000 $222,100,576
1995 $279,013,000,000 $208,871,666
1994 $256,213,000,000 $195,990,986
1993 $234,943,000,000 $138,489,884
1992 $222,947,000,000 $137,066,291
1991 $187,100,000,000 $132,201,141
1990 $166,392,000,000 $113,563,822
1989 $152,687,000,000 $106,344,855
1988 $126,378,000,000 $106,657,267
1987 $104,956,000,000 $81,667,133
1986 $78,347,000,000 $68,195,856
1985 $63,599,000,000 $60,058,663
1984 $61,036,000,000 $64,248,355
1983 $54,155,000,000 $60,863,964
1982 $49,540,000,000 $62,068,161
1981 $49,047,000,000 $62,242,013
1980 $42,292,000,000 $53,260,077
1979 $33,875,000,000 $44,667,002
1978 $27,373,000,000 $41,567,472
1977 $22,252,000,000 $34,139,388
1976 $18,988,000,000 $30,036,417
1975 $15,836,000,000 $32,506,742
1974 $14,739,000,000 -
1973 $10,940,000,000 -
1972 $8,063,000,000 -
1971 $6,727,000,000 -
1970 $5,785,000,000 -
1969 $5,017,000,000 -
1968 $4,325,000,000 -
1967 $3,709,000,000 -
1966 $3,207,000,000 -
1965 $2,869,000,000 -
1964 $2,592,000,000 -
1963 $2,218,000,000 -
1962 $1,960,000,000 -
1961 $1,778,000,000 -
1960 $1,743,000,000 -
1959 $1,444,000,000 -
1958 $1,836,000,000 -
1957 $1,636,000,000 -
1956 $1,399,000,000 -
1955 $1,940,000,000 -
1954 $1,628,000,000 -
1953 $1,481,000,000 -
1952 $1,677,000,000 -
1951 $1,197,000,000 -

Data sources: National Statistics, Taiwan (1951–2024, retrieved 2026-02-09); World Bank | Economy & Growth (1975–2023, retrieved 2026-04-06).

GeoRank.org/economy/taiwan/tonga | CC BY

GDP per capita in Taiwan vs Tonga by year

Taiwan
GDP per capita

GDP per capita, PPP
Tonga
GDP per capita

GDP per capita, PPP
1x
Year Current $
Taiwan Tonga
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $34,238 - - -
2023 $32,444 - $5,652 $7,803
2022 $32,827 - $5,298 $7,296
2021 $33,111 - $4,923 $6,929
2020 $28,705 - $4,792 $6,676
2019 $25,998 - $4,789 $6,473
2018 $25,901 - $4,675 $6,393
2017 $25,121 $50,500 $4,366 $6,229
2016 $23,091 - $3,988 $5,920
2015 $22,780 $46,800 $4,124 $5,472
2014 $22,874 - $4,137 $5,336
2013 $21,973 $39,600 $4,219 $5,120
2012 $21,295 $39,400 $4,384 $4,996
2011 $20,866 $38,200 $3,850 $4,855
2010 $19,197 $35,700 $3,416 $4,465
2009 $16,933 $32,000 $2,914 $4,384
2008 $18,081 $31,100 $3,218 $4,600
2007 $17,757 $30,100 $2,797 $4,316
2006 $16,934 $29,500 $2,750 $4,327
2005 $16,456 $27,500 $2,478 $4,315
2004 $15,317 $25,300 $2,195 $4,235
2003 $14,066 $23,400 $1,936 $4,231
2002 $13,686 $18,000 $1,759 $4,171
2001 $13,397 $17,200 $1,754 $3,955
2000 $14,908 $17,400 $1,995 $3,834
1999 $13,804 $16,100 $1,952 $3,636
1998 $12,820 - $1,889 $3,527
1997 $14,020 - $2,136 $3,434
1996 $13,641 - $2,215 $3,410
1995 $13,119 - $2,084 $3,347
1994 $12,150 - $1,957 $3,088
1993 $11,242 - $1,383 $2,882
1992 $10,768 - $1,370 $2,716
1991 $9,125 - $1,323 $2,652
1990 $8,205 - $1,139 $2,416
1989 $7,613 - $1,070 -
1988 $6,370 - $1,078 -
1987 $5,350 - $830 -
1986 $4,036 - $696 -
1985 $3,314 - $613 -
1984 $3,224 - $656 -
1983 $2,903 - $621 -
1982 $2,699 - $633 -
1981 $2,720 - $636 -
1980 $2,389 - $545 -
1979 $1,950 - $458 -
1978 $1,606 - $428 -
1977 $1,330 - $353 -
1976 $1,158 - $315 -
1975 $985 - $349 -
1974 $934 - - -
1973 $706 - - -
1972 $530 - - -
1971 $451 - - -
1970 $397 - - -
1969 $357 - - -
1968 $319 - - -
1967 $280.8 - - -
1966 $249.1 - - -
1965 $229.3 - - -
1964 $213.6 - - -
1963 $188.6 - - -
1962 $172 - - -
1961 $161.2 - - -
1960 $163.4 - - -
1959 $140.4 - - -
1958 $185.1 - - -
1957 $170.5 - - -
1956 $150.6 - - -
1955 $216.3 - - -
1954 $188.3 - - -
1953 $177.7 - - -
1952 $208.4 - - -
1951 $154.3 - - -

Data sources: National Statistics, Taiwan (1951–2024, retrieved 2026-02-09); World Bank | Economy & Growth (1975–2023, retrieved 2026-04-06); Central Intelligence Agency (CIA) (1999–2017, retrieved 2026-02-20).

GeoRank.org/economy/taiwan/tonga | CC BY

Taiwan's GDP per capita is $34,238, ranking 35/197, compared to $5,652 in Tonga, ranking 115/197. Adjusted for purchasing power (GDP per capita PPP), Taiwan ranks 44th at $50,500, while Tonga ranks 144th at $7,803.

Economic indicators

Taiwan Tonga
Gross domestic product
$802B
2024
$591M
2023
GDP rank
22/197
2024
191/197
2023
GDP growth
2.3%
2023-2024
2.79%
2022-2023
GDP per capita
$34,238
2024
$5,652
2023
GDP per capita rank
35/197
2024
115/197
2023
GDP per capita, PPP
$50,500
2017
$7,803
2023
GDP per capita PPP rank
44/197
2017
144/197
2023
Government debt
$211B
2024
$256M
2023
Debt-to-GDP ratio
26.3%
2024
37%
2024
Government debt per person
$9,020
2024
$2,445
2023
Government debt per person rank
59/185
2024
111/185
2023
Average annual personal income after taxes
$18,163
2026
$3,886
2026
Number of millionaires
759,000
2025
n/a
Number of billionaires
54
2025
n/a
Income share by richest 10% n/a
22%
2021
Income share by poorest 10% n/a
4%
2021
Government expenditure, % of GDP
15.8%
2024
51.3%
2024
Consumer prices inflation
2.2%
2023-2024
3.18%
2023-2024
Central bank interest rate
2%
2024
n/a
Unemployment rate
3.35%
2025
1.65%
2023
Population
23229461
103309

Spending and national debt comparison by year

Taiwan
Spending

Debt
Tonga
Spending

Debt
1x
Year % of GDP
Taiwan Tonga
Government spending Government debt Government spending Government debt
2024 15.8% 26.3% 51.3% 37%
2023 17.1% 29% 48.2% 43.3%
2022 16% 29.5% 44.4% 43.2%
2021 15.4% 30.1% 44.6% 43%
2020 16.2% 32% 37.9% 42.6%
2019 15.3% 32.6% 39.9% 42.8%
2018 15.4% 33.8% 39.6% 45.8%
2017 15.4% 34.5% 39.7% 44.7%
2016 15.6% 35.4% 37.2% 49.4%
2015 15.5% 35.9% 37.4% 51.1%
2014 - 37.5% 31.5% 47.4%
2013 - 38.9% 34.3% 48.9%
2012 - 39.2% 32% 60%
2011 18.3% 38.3% 32.6% 51.9%
2010 - 36.9% 28.4% 44.7%
2009 - 36.7% 23.9% 39.7%
2008 - 33.4% 24% 34%
2007 - 32.2% 23.2% 37.8%
2006 - 33.3% 25.6% 39.6%
2005 - 34.1% 19.8% 43.3%
2004 - 33.4% 19.3% 52.2%
2003 - 32.1% 20% 56.2%
2002 - 29.8% 21.3% 60.7%
2001 22.5% 30.1% 19.1% 53.4%
2000 - 26.2% 20% 43.6%
1999 - 23.7% 18.8% 38.4%
1998 - 23.7% - -
1997 - 25% - -
1996 - - - -
1995 - - - -
1994 - - - -
1993 - - - -
1992 - - - -
1991 25.4% - - -
1990 - - - -
1989 - - - -
1988 - - - -
1987 - - - -
1986 - - - -
1985 - - - -
1984 - - - -
1983 - - - -
1982 - - - -
1981 23.6% - - -
1980 - - - -
1979 - - - -
1978 - - - -
1977 - - - -
1976 21.4% - - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1997–2024, retrieved 2026-02-20); National Statistics, Taiwan (1976–2024, retrieved 2026-02-09).

GeoRank.org/economy/taiwan/tonga | CC BY

In 2024, Taiwan's government spending was $127B, accounting for 15.8% of its GDP, while Tonga spent $285M, or 51.3% of GDP.

Debt-to-GDP ratio is 26.3% in Taiwan and 37% in Tonga, ranking 160/185 and 142/185, respectively.

Government deficit by year

Deficit/surplus
Taiwan

Tonga
1x
Year Deficit/surplus, % of GDP
Taiwan Tonga
2024 0.43% 4.17%
2023 -0.61% 6.14%
2022 0.17% -0.1%
2021 -0.18% -0.87%
2020 -1.03% 5.25%
2019 0.11% 3.28%
2018 0.02% 2.92%
2017 -0.14% 3.58%
2016 -0.31% 1.47%
2015 0.1% -2.75%
2014 - 6.38%
2013 - -1.3%
2012 - -1.74%
2011 -2.15% -6.02%
2010 - -1.22%
2009 - 6.85%
2008 - 2.14%
2007 - 5.39%
2006 - 1.34%
2005 - 4.23%
2004 - 4.23%
2003 - 2.37%
2002 - 2.59%
2001 -3.71% 2.23%
2000 - 1.35%
1999 - 1.55%
1998 - -
1997 - -
1996 - -
1995 - -
1994 - -
1993 - -
1992 - -
1991 -4.5% -
1990 - -
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 -0.78% -
1980 - -
1979 - -
1978 - -
1977 - -
1976 1.39% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1999–2024, retrieved 2026-02-20); National Statistics, Taiwan (1976–2024, retrieved 2026-02-09).

GeoRank.org/economy/taiwan/tonga | CC BY

In 2023, Taiwan's government deficit, the difference between spending and revenue, was $4.65B, equivalent to 0.61% of GDP. This compares to Tonga's surplus of $36.3M, or 6.14% of GDP.

Over the past 25 years, Taiwan recorded a fiscal deficit in 7 of those years, while Tonga ran a deficit in 7 years. On average, Taiwan posted an annual deficit equal to 0.7% of GDP, compared to surplus of 1.97% of GDP for Tonga.

Inflation comparison by year

Inflation
Taiwan

Tonga
1x
Year Consumer prices inflation
Taiwan Tonga
2024 2.2% 3.18%
2023 2.5% 6.35%
2022 2.9% 11%
2021 2% 5.64%
2020 -0.2% -0.35%
2019 0.6% 1.18%
2018 1.4% 5.03%
2017 0.6% 7.52%
2016 1.4% 2.58%
2015 -0.3% -1.05%
2014 1.2% 2.51%
2013 0.8% 0.78%
2012 1.9% 1.15%
2011 1.4% 6.27%
2010 1% 3.53%
2009 -0.9% 1.43%
2008 3.5% 10.4%
2007 1.8% 5.84%
2006 0.6% 6.15%
2005 2.3% 8.67%
2004 1.6% 11%
2003 -0.3% 11.6%
2002 -0.2% 10.4%
2001 0% 8.29%
2000 1.2% 6.33%
1999 0.2% 4.46%
1998 1.7% 3.27%
1997 0.9% 2.12%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/taiwan/tonga | CC BY

Over the past 28 years, Taiwan has recorded an average annual inflation rate of 1.14%, compared with 5.19% in Tonga. In 2024, inflation was 2.2% in Taiwan and 3.18% in Tonga.

Balance of trade

Taiwan Tonga
Current account balance
$113B
2024
-$43.5M
2024
Current account balance ranking
4/190
2024
83/190
2024
Current account balance, % of GDP
+14.1%
2024
-7.93%
2023
Goods imports n/a
$232M
2024
Goods exports n/a
$10.8M
2024
Service imports n/a
$161M
2024
Service exports n/a
$93.6M
2024
Imports of goods and services, % of GDP
50.2%
2024
64.9%
2023
Exports of goods and services, % of GDP
63.3%
2024
14.7%
2023

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Taiwan Tonga
Economic freedom 79.8 58.9
Economic freedom ranking 6/197 107/197
Property rights 83.4 71.1
Government integrity 74.3 45.1
Judicial effectiveness 94.3 64.9
Tax burden 78.9 85.6
Government spending 90 31
Fiscal health 92.9 97.3
Business freedom 78.6 59.2
Labor freedom 69 55.9
Monetary freedom 80.3 61
Trade freedom 86 75.4
Investment freedom 70 40
Financial freedom 60 20

Economic freedom comparison by year

Taiwan
Tonga
1x
Year Economic freedom index
Taiwan Tonga
2026 79.8 58.9
2025 79.7 58.5
2024 80 59.2
2023 80.7 60
2022 80.1 60.8
2021 78.6 57.5
2020 77.1 58.8
2019 77.3 57.7
2018 76.6 63.1
2017 76.5 63
2016 74.7 59.6
2015 75.1 59.3
2014 73.9 58.2
2013 72.7 56
2012 71.9 57
2011 70.8 55.8
2010 70.4 53.4
2009 69.5 54.1
2008 70.3 -
2007 69.4 -
2006 69.7 -
2005 71.3 -
2004 69.6 -
2003 71.7 -
2002 71.3 -
2001 72.8 -
2000 72.5 -
1999 71.5 -
1998 70.4 -
1997 70 -
1996 74.1 -
1995 74.2 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/taiwan/tonga | CC BY

The Economic Freedom Index for Taiwan is 79.8, ranking 6/197, compared to 58.9 for Tonga, ranking 107/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Taiwan Tonga
Services, % of GDP
58.8%
2024
50%
2023
Industry, % of GDP
39.8%
2024
14.9%
2023
Agriculture, forestry, and fishing, % of GDP
1.47%
2024
19%
2023
GNI, Atlas method
$832B
2024
$619M
2023
GNI per capita, PPP n/a
$8,400
2023
Total reserves including gold n/a
$377M
2024
Total reserves ranking n/a
163/177
2024
Net foreign direct investment n/a
$13.3M
2024
Net inflows of foreign direct investment n/a
-$12.1M
2024
Net outflows of foreign direct investment n/a
$1.25M
2024
Servicing debt to the IMF, % of GNI n/a
2.76%
2023
Poverty at national poverty lines
1.5%
2020
20.6%
2021
Gross capital formation, % of GDP
26.7%
2024
25.9%
2023

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); National Statistics, Taiwan (1985–2024, retrieved 2026-02-09); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/taiwan/tonga | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1975–2024, retrieved 2026-04-06)
  2. National Statistics, Taiwan (1951–2025, retrieved 2026-02-09)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1997–2024, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. Central Intelligence Agency (CIA) (1999–2020, retrieved 2026-02-20)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.