Taiwan has a GDP of $797B compared to $19.8M for the Vatican, ranking 22/197 and 197/197 by economy size, respectively.
The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.
| Year | GDP | |||
|---|---|---|---|---|
Taiwan
|
Vatican
|
|||
| Current $ | Constant $ | Current $ | Constant $ | |
| 1961 | $1,778,000,000 | $8,679,929,611 | - | - |
| 1962 | $1,960,000,000 | $9,454,346,748 | - | - |
| 1963 | $2,218,000,000 | $10,464,907,675 | - | - |
| 1964 | $2,592,000,000 | $11,793,964,384 | - | - |
| 1965 | $2,869,000,000 | $13,190,336,174 | - | - |
| 1966 | $3,207,000,000 | $14,463,525,312 | - | - |
| 1967 | $3,709,000,000 | $16,077,852,678 | - | - |
| 1968 | $4,325,000,000 | $17,637,862,239 | - | - |
| 1969 | $5,017,000,000 | $19,323,708,846 | - | - |
| 1970 | $5,785,000,000 | $21,555,007,674 | - | - |
| 1971 | $6,727,000,000 | $24,445,797,153 | - | - |
| 1972 | $8,063,000,000 | $27,842,009,247 | - | - |
| 1973 | $10,940,000,000 | $32,847,062,458 | - | - |
| 1974 | $14,739,000,000 | $33,945,846,774 | - | - |
| 1975 | $15,836,000,000 | $36,044,903,890 | - | - |
| 1976 | $18,988,000,000 | $41,191,572,828 | - | - |
| 1977 | $22,252,000,000 | $45,893,568,392 | - | - |
| 1978 | $27,373,000,000 | $53,597,868,524 | - | - |
| 1979 | $33,875,000,000 | $59,870,085,548 | - | - |
| 1980 | $42,292,000,000 | $64,680,315,014 | - | - |
| 1981 | $49,047,000,000 | $67,783,428,692 | - | - |
| 1982 | $49,540,000,000 | $66,810,194,447 | - | - |
| 1983 | $54,155,000,000 | $71,137,046,806 | - | - |
| 1984 | $61,036,000,000 | $79,147,911,326 | - | - |
| 1985 | $63,599,000,000 | $82,460,447,325 | - | - |
| 1986 | $78,347,000,000 | $96,836,732,438 | - | - |
| 1987 | $104,956,000,000 | $129,675,882,423 | - | - |
| 1988 | $126,378,000,000 | $156,044,046,292 | - | - |
| 1989 | $152,687,000,000 | $183,784,649,810 | - | - |
| 1990 | $166,392,000,000 | $190,504,223,552 | - | - |
| 1991 | $187,100,000,000 | $206,988,834,464 | - | - |
| 1992 | $222,947,000,000 | $238,968,470,019 | - | - |
| 1993 | $234,943,000,000 | $243,364,255,376 | - | - |
| 1994 | $256,213,000,000 | $260,942,755,411 | - | - |
| 1995 | $279,013,000,000 | $277,583,630,009 | - | - |
| 1996 | $292,473,000,000 | $284,304,017,330 | - | - |
| 1997 | $303,315,000,000 | $288,489,435,863 | - | - |
| 1998 | $279,926,000,000 | $257,858,026,837 | - | - |
| 1999 | $303,827,000,000 | $285,370,494,339 | - | - |
| 2000 | $330,725,000,000 | $313,484,942,307 | - | - |
| 2001 | $299,303,000,000 | $285,512,538,534 | - | - |
| 2002 | $307,429,000,000 | $294,450,146,922 | - | - |
| 2003 | $317,374,000,000 | $308,324,316,262 | - | - |
| 2004 | $346,881,000,000 | $339,503,528,904 | - | - |
| 2005 | $374,042,000,000 | $371,706,869,424 | - | - |
| 2006 | $386,492,000,000 | $388,895,059,066 | - | - |
| 2007 | $406,940,000,000 | $411,645,733,929 | - | - |
| 2008 | $415,824,000,000 | $432,019,156,870 | - | - |
| 2009 | $390,788,000,000 | $405,487,441,747 | - | - |
| 2010 | $444,245,000,000 | $466,993,498,994 | - | - |
| 2011 | $483,957,000,000 | $519,940,525,565 | - | - |
| 2012 | $495,536,000,000 | $528,811,359,505 | - | - |
| 2013 | $512,957,000,000 | $539,165,671,117 | - | - |
| 2014 | $535,332,000,000 | $553,457,593,678 | - | - |
| 2015 | $534,474,000,000 | $534,474,000,000 | - | - |
| 2016 | $543,002,000,000 | $538,950,160,299 | - | - |
| 2017 | $591,734,000,000 | $593,383,986,358 | - | - |
| 2018 | $610,744,000,000 | $616,265,638,561 | - | - |
| 2019 | $613,453,000,000 | $619,320,922,242 | - | - |
| 2020 | $676,935,000,000 | $669,693,209,528 | - | - |
| 2021 | $777,062,000,000 | $754,527,202,297 | - | - |
| 2022 | $765,529,000,000 | $728,253,805,256 | - | - |
| 2023 | $757,276,000,000 | $704,527,158,972 | - | - |
| 2024 | $796,904,000,000 | $716,608,430,916 | - | - |
Economic indicators
|
Taiwan
|
Vatican
|
|
|---|---|---|
| Gross domestic product |
$797B
2024 |
$19.8M
2025 |
| GDP rank |
22/197
2024 |
197/197
2025 |
| GDP growth |
5.23%
2023-2024 |
n/a |
| GDP per capita |
$34,041
2024 |
$19,800
2025 |
| GDP per capita rank |
34/197
2024 |
59/197
2025 |
| GDP per capita, PPP |
$50,500
2017 |
$39,191
2025 |
| Government debt |
$209B
2024 |
n/a |
| Debt-to-GDP ratio |
24%
2025 |
n/a |
| Government debt per person |
$8,907
2024 |
n/a |
| Government debt per person rank |
61/185
2024 |
n/a |
| Average annual personal income after taxes |
$17,771
2025 |
$17,307
2025 |
| Number of millionaires |
788,799
2024 |
n/a |
| Number of billionaires |
54
2025 |
n/a |
| Government expenditure, % of GDP |
15.9%
2024 |
n/a |
| Consumer prices inflation |
1.7%
2024-2025 |
n/a |
| Central bank interest rate |
2%
2024 |
n/a |
| Unemployment rate |
3.38%
2024 |
n/a |
| Population |
23308308
|
949
|
Balance of trade
Economic freedom indices
The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.
|
Taiwan
|
Vatican
|
|
|---|---|---|
| Economic freedom | 79.7 | 65 |
| Economic freedom ranking | 5/197 | 68/197 |
| Property rights | 83 | n/a |
| Government integrity | 73.3 | n/a |
| Judicial effectiveness | 94.4 | n/a |
| Tax burden | 79 | n/a |
| Government spending | 90.1 | n/a |
| Fiscal health | 91.3 | n/a |
| Business freedom | 79.6 | n/a |
| Labor freedom | 69 | n/a |
| Monetary freedom | 79.9 | n/a |
| Trade freedom | 86.6 | n/a |
| Investment freedom | 70 | n/a |
| Financial freedom | 60 | n/a |
More economic indicators
GDP per capita map
GDP per capita
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Economy comparisons
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.
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.