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Economy of Taiwan vs Turkmenistan compared: GDP & Debt

Updated on by Georank team

Taiwan has a GDP of $802B compared to $51.4B for Turkmenistan, ranking 22/197 and 92/197 by economy size, respectively.

Taiwan has $211B in government debt (26.3% of GDP), compared to $2.11B (4.11% of GDP) in Turkmenistan.

Taiwan vs Turkmenistan GDP by year

Taiwan
Turkmenistan
1x
Year GDP, current $
Taiwan Turkmenistan
2024 $801,529,000,000 $51,387,209,872
2023 $757,328,000,000 $45,894,538,666
2022 $765,529,000,000 $42,208,726,138
2021 $777,062,000,000 $40,589,905,812
2020 $676,935,000,000 $41,509,903,182
2019 $613,453,000,000 $40,810,067,975
2018 $610,744,000,000 $40,765,428,571
2017 $591,734,000,000 $37,926,285,714
2016 $543,002,000,000 $36,169,428,571
2015 $534,474,000,000 $35,799,714,286
2014 $535,332,000,000 $43,524,210,526
2013 $512,957,000,000 $39,197,543,860
2012 $495,536,000,000 $35,164,210,526
2011 $483,957,000,000 $29,233,333,333
2010 $444,245,000,000 $22,583,157,895
2009 $390,788,000,000 $20,214,385,965
2008 $415,824,000,000 $19,271,523,179
2007 $406,940,000,000 $12,664,165,103
2006 $386,492,000,000 $10,276,674,365
2005 $374,042,000,000 $8,103,901,996
2004 $346,881,000,000 $6,838,351,088
2003 $317,374,000,000 $5,977,440,583
2002 $307,429,000,000 $4,462,029,109
2001 $299,303,000,000 $3,534,772,732
2000 $330,725,000,000 $2,904,663,311
1999 $303,827,000,000 $2,450,564,100
1998 $279,926,000,000 $2,605,689,134
1997 $303,315,000,000 $2,450,350,625
1996 $292,473,000,000 $2,378,759,975
1995 $279,013,000,000 $2,482,228,440
1994 $256,213,000,000 $2,561,118,608
1993 $234,943,000,000 $3,179,225,949
1992 $222,947,000,000 $3,200,539,816
1991 $187,100,000,000 $3,208,098,919
1990 $166,392,000,000 $3,189,539,641
1989 $152,687,000,000 $3,006,988,217
1988 $126,378,000,000 $3,010,982,414
1987 $104,956,000,000 $2,331,358,820
1986 $78,347,000,000 -
1985 $63,599,000,000 -
1984 $61,036,000,000 -
1983 $54,155,000,000 -
1982 $49,540,000,000 -
1981 $49,047,000,000 -
1980 $42,292,000,000 -
1979 $33,875,000,000 -
1978 $27,373,000,000 -
1977 $22,252,000,000 -
1976 $18,988,000,000 -
1975 $15,836,000,000 -
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 (1987–2024, retrieved 2026-04-06).

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

GDP per capita in Taiwan vs Turkmenistan by year

Taiwan
GDP per capita

GDP per capita, PPP
Turkmenistan
GDP per capita

GDP per capita, PPP
1x
Year Current $
Taiwan Turkmenistan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $34,238 - $6,857 $21,213
2023 $32,444 - $6,232 $19,829
2022 $32,827 - $5,838 $18,340
2021 $33,111 - $5,723 $16,434
2020 $28,705 - $5,973 $15,091
2019 $25,998 - $5,998 $15,478
2018 $25,901 - $6,125 $14,368
2017 $25,121 $50,500 $5,828 $13,278
2016 $23,091 - $5,687 $12,919
2015 $22,780 $46,800 $5,759 $12,715
2014 $22,874 - $7,164 $12,477
2013 $21,973 $39,600 $6,600 $11,723
2012 $21,295 $39,400 $6,054 $11,035
2011 $20,866 $38,200 $5,144 $10,283
2010 $19,197 $35,700 $4,059 $8,972
2009 $16,933 $32,000 $3,708 $8,285
2008 $18,081 $31,100 $3,606 $7,916
2007 $17,757 $30,100 $2,415 $6,901
2006 $16,934 $29,500 $1,997 $6,164
2005 $16,456 $27,500 $1,604 $5,489
2004 $15,317 $25,300 $1,379 $4,798
2003 $14,066 $23,400 $1,229 $4,536
2002 $13,686 $18,000 $936 $4,393
2001 $13,397 $17,200 $756 $4,401
2000 $14,908 $17,400 $634 $4,209
1999 $13,804 $16,100 $546 $3,981
1998 $12,820 - $591 $3,432
1997 $14,020 - $565 $3,222
1996 $13,641 - $558 $3,636
1995 $13,119 - $592 $3,405
1994 $12,150 - $622 $3,659
1993 $11,242 - $788 $4,422
1992 $10,768 - $811 $4,351
1991 $9,125 - $832 $5,117
1990 $8,205 - $848 $5,321
1989 $7,613 - $821 -
1988 $6,370 - $846 -
1987 $5,350 - $675 -
1986 $4,036 - - -
1985 $3,314 - - -
1984 $3,224 - - -
1983 $2,903 - - -
1982 $2,699 - - -
1981 $2,720 - - -
1980 $2,389 - - -
1979 $1,950 - - -
1978 $1,606 - - -
1977 $1,330 - - -
1976 $1,158 - - -
1975 $985 - - -
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 (1987–2024, retrieved 2026-04-06); Central Intelligence Agency (CIA) (1999–2017, retrieved 2026-02-20).

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

Taiwan's GDP per capita is $34,238, ranking 35/197, compared to $6,857 in Turkmenistan, ranking 104/197. Adjusted for purchasing power (GDP per capita PPP), Taiwan ranks 44th at $50,500, while Turkmenistan ranks 94th at $21,213.

Economic indicators

Taiwan Turkmenistan
Gross domestic product
$802B
2024
$51.4B
2024
GDP rank
22/197
2024
92/197
2024
GDP growth
2.3%
2023-2024
6.3%
2023-2024
GDP per capita
$34,238
2024
$6,857
2024
GDP per capita rank
35/197
2024
104/197
2024
GDP per capita, PPP
$50,500
2017
$21,213
2024
GDP per capita PPP rank
44/197
2017
94/197
2024
Government debt
$211B
2024
$2.11B
2024
Debt-to-GDP ratio
26.3%
2024
4.11%
2024
Government debt per person
$9,020
2024
$282
2024
Government debt per person rank
59/185
2024
179/185
2024
Average annual personal income after taxes
$18,163
2026
$7,520
2026
Number of millionaires
759,000
2025
n/a
Number of billionaires
54
2025
n/a
Income share by richest 10% n/a
31.5%
1998
Income share by poorest 10% n/a
2.4%
1998
Government expenditure, % of GDP
15.8%
2024
14.5%
2024
Consumer prices inflation
2.2%
2023-2024
4.6%
2023-2024
Central bank interest rate
2%
2024
n/a
Unemployment rate
3.35%
2025
4%
2010
Population
23229461
7776557

Spending and national debt comparison by year

Taiwan
Spending

Debt
Turkmenistan
Spending

Debt
1x
Year % of GDP
Taiwan Turkmenistan
Government spending Government debt Government spending Government debt
2024 15.8% 26.3% 14.5% 4.11%
2023 17.1% 29% 13.7% 5.46%
2022 16% 29.5% 13% 7.14%
2021 15.4% 30.1% 13.4% 12.3%
2020 16.2% 32% 13.5% 15.4%
2019 15.3% 32.6% 13.6% 17.7%
2018 15.4% 33.8% 13.7% 22.5%
2017 15.4% 34.5% 17.8% 24.7%
2016 15.6% 35.4% 14.1% 21.1%
2015 15.5% 35.9% 17.3% 19%
2014 - 37.5% 17% 16%
2013 - 38.9% 16.9% 20.4%
2012 - 39.2% 14.7% 17.9%
2011 18.3% 38.3% 15.4% 14.8%
2010 - 36.9% 14.6% 7.04%
2009 - 36.7% 14.4% 3.09%
2008 - 33.4% 11.7% 3.56%
2007 - 32.2% 14.4% 3.06%
2006 - 33.3% 16% 4.23%
2005 - 34.1% 21.1% 6.82%
2004 - 33.4% 20.3% 11.4%
2003 - 32.1% 20.8% 16.9%
2002 - 29.8% 19.4% 24.2%
2001 22.5% 30.1% 22.6% 34.1%
2000 - 26.2% 25.9% 55.1%
1999 - 23.7% 20.8% 66.7%
1998 - 23.7% 26.1% 81.6%
1997 - 25% 26.9% 64.2%
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/turkmenistan | CC BY

In 2024, Taiwan's government spending was $127B, accounting for 15.8% of its GDP, while Turkmenistan spent $7.46B, or 14.5% of GDP.

Debt-to-GDP ratio is 26.3% in Taiwan and 4.11% in Turkmenistan, ranking 160/185 and 183/185, respectively.

Government deficit by year

Deficit/surplus
Taiwan

Turkmenistan
1x
Year Deficit/surplus, % of GDP
Taiwan Turkmenistan
2024 0.43% -0.08%
2023 -0.61% 0.11%
2022 0.17% 3.38%
2021 -0.18% 0.57%
2020 -1.03% -0.16%
2019 0.11% -0.4%
2018 0.02% -0.22%
2017 -0.14% -2.84%
2016 -0.31% -2.38%
2015 0.1% -0.7%
2014 - 0.89%
2013 - 1.53%
2012 - 7.53%
2011 -2.15% 3.84%
2010 - 2.13%
2009 - 7.53%
2008 - 10.7%
2007 - 4.19%
2006 - 5.64%
2005 - 0.86%
2004 - 1.47%
2003 - 3.99%
2002 - 0.19%
2001 -3.71% 0.77%
2000 - -0.55%
1999 - 2.48%
1998 - 1.15%
1997 - -0.2%
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 (1997–2024, retrieved 2026-02-20); National Statistics, Taiwan (1976–2024, retrieved 2026-02-09).

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

In 2024, Taiwan's government surplus, the difference between spending and revenue, was $3.45B, equivalent to 0.43% of GDP. This compares to Turkmenistan's deficit of $42.9M, or 0.08% of GDP.

Over the past 28 years, Taiwan recorded a fiscal deficit in 7 of those years, while Turkmenistan ran a deficit in 9 years. On average, Taiwan posted an annual deficit equal to 0.61% of GDP, compared to surplus of 1.84% of GDP for Turkmenistan.

Inflation comparison by year

Inflation
Taiwan

Turkmenistan
1x
Year Consumer prices inflation
Taiwan Turkmenistan
2024 2.2% 4.6%
2023 2.5% -1.6%
2022 2.9% 11.2%
2021 2% 19.5%
2020 -0.2% 6.1%
2019 0.6% 5.1%
2018 1.4% 13.3%
2017 0.6% 8%
2016 1.4% 3.6%
2015 -0.3% 7.4%
2014 1.2% 6%
2013 0.8% 6.8%
2012 1.9% 5.3%
2011 1.4% 5.3%
2010 1% 4.4%
2009 -0.9% -2.7%
2008 3.5% 14.5%
2007 1.8% 6.3%
2006 0.6% 8.2%
2005 2.3% 10.7%
2004 1.6% 5.9%
2003 -0.3% 5.6%
2002 -0.2% 8.8%
2001 0% 11.6%
2000 1.2% 8%
1999 0.2% 23.5%
1998 1.7% 16.8%
1997 0.9% 83.7%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

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

Over the past 28 years, Taiwan has recorded an average annual inflation rate of 1.14%, compared with 10.9% in Turkmenistan. In 2024, inflation was 2.2% in Taiwan and 4.6% in Turkmenistan.

Balance of trade

Taiwan Turkmenistan
Current account balance
$113B
2024
n/a
Current account balance ranking
4/190
2024
n/a
Current account balance, % of GDP
+14.1%
2024
n/a
Imports of goods and services, % of GDP
50.2%
2024
11.2%
2024
Exports of goods and services, % of GDP
63.3%
2024
17.6%
2024

Economic freedom indices

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

Taiwan Turkmenistan
Economic freedom 79.8 47
Economic freedom ranking 6/197 177/197
Property rights 83.4 17.4
Government integrity 74.3 8.4
Judicial effectiveness 94.3 12.3
Tax burden 78.9 94.2
Government spending 90 94.3
Fiscal health 92.9 99.9
Business freedom 78.6 37.5
Labor freedom 69 29.3
Monetary freedom 80.3 76.7
Trade freedom 86 74.2
Investment freedom 70 10
Financial freedom 60 10

Economic freedom comparison by year

Taiwan
Turkmenistan
1x
Year Economic freedom index
Taiwan Turkmenistan
2026 79.8 47
2025 79.7 47.1
2024 80 46.3
2023 80.7 46.5
2022 80.1 46.2
2021 78.6 47.4
2020 77.1 46.5
2019 77.3 48.4
2018 76.6 47.1
2017 76.5 47.4
2016 74.7 41.9
2015 75.1 41.4
2014 73.9 42.2
2013 72.7 42.6
2012 71.9 43.8
2011 70.8 43.6
2010 70.4 42.5
2009 69.5 44.2
2008 70.3 43.4
2007 69.4 43
2006 69.7 43.8
2005 71.3 47.6
2004 69.6 50.7
2003 71.7 51.3
2002 71.3 43.2
2001 72.8 41.8
2000 72.5 37.6
1999 71.5 36.1
1998 70.4 35
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/turkmenistan | CC BY

The Economic Freedom Index for Taiwan is 79.8, ranking 6/197, compared to 47 for Turkmenistan, ranking 177/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Taiwan Turkmenistan
Services, % of GDP
58.8%
2024
50.4%
2024
Industry, % of GDP
39.8%
2024
37.5%
2024
Agriculture, forestry, and fishing, % of GDP
1.47%
2024
12.2%
2024
GNI, Atlas method
$832B
2024
$48.8B
2024
GNI per capita, PPP n/a
$21,020
2024
Total reserves including gold n/a
$1.51B
1999
Total reserves ranking n/a
135/177
1999
Net inflows of foreign direct investment n/a
$1.64B
2024
Net outflows of foreign direct investment n/a
$0
2024
Servicing debt to the IMF, % of GNI n/a
1.91%
2024
Poverty at national poverty lines
1.5%
2020
0.2%
2020
Gross capital formation, % of GDP
26.7%
2024
47.2%
2012

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/turkmenistan | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1985–2024, 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.

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.