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Economy of Taiwan vs Vietnam compared: GDP & Debt

Updated on by Georank

Taiwan has a GDP of $802B compared to $515B for Vietnam, ranking 22/197 and 33/197 by economy size, respectively.

Taiwan has $215B in government debt (22.4% of GDP), compared to $156B (30.3% of GDP) in Vietnam.

Taiwan vs Vietnam GDP by year

Taiwan
Vietnam
1x
Year GDP, current $
Taiwan Vietnam
2025 - $514,697,215,165
2024 $801,529,000,000 $476,324,572,784
2023 $757,328,000,000 $433,805,036,898
2022 $765,529,000,000 $413,445,230,669
2021 $777,062,000,000 $366,474,752,771
2020 $676,935,000,000 $346,615,738,538
2019 $613,453,000,000 $334,365,270,497
2018 $610,744,000,000 $310,106,478,395
2017 $591,734,000,000 $281,353,605,987
2016 $543,002,000,000 $257,096,001,178
2015 $534,474,000,000 $239,258,328,382
2014 $535,332,000,000 $233,451,469,643
2013 $512,957,000,000 $213,708,811,665
2012 $495,536,000,000 $195,590,661,129
2011 $483,957,000,000 $172,595,049,184
2010 $444,245,000,000 $147,201,173,197
2009 $390,788,000,000 $106,014,659,565
2008 $415,824,000,000 $99,130,304,099
2007 $406,940,000,000 $77,414,425,532
2006 $386,492,000,000 $66,371,664,817
2005 $374,042,000,000 $57,633,255,738
2004 $346,881,000,000 $45,427,854,693
2003 $317,374,000,000 $39,552,513,232
2002 $307,429,000,000 $35,064,105,501
2001 $299,303,000,000 $32,685,198,809
2000 $330,725,000,000 $31,172,518,403
1999 $303,827,000,000 $28,683,659,007
1998 $279,926,000,000 $27,209,602,050
1997 $303,315,000,000 $26,843,700,442
1996 $292,473,000,000 $24,657,470,575
1995 $279,013,000,000 $20,736,164,459
1994 $256,213,000,000 $16,286,433,533
1993 $234,943,000,000 $13,180,953,598
1992 $222,947,000,000 $9,866,990,236
1991 $187,100,000,000 $9,613,369,520
1990 $166,392,000,000 $6,471,740,806
1989 $152,687,000,000 $6,293,304,975
1988 $126,378,000,000 $25,423,812,649
1987 $104,956,000,000 $36,658,108,850
1986 $78,347,000,000 $26,336,616,250
1985 $63,599,000,000 $14,094,687,821
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 2026-07-08); World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08).

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

GDP per capita in Taiwan vs Vietnam by year

Taiwan
GDP per capita

GDP per capita, PPP
Vietnam
GDP per capita

GDP per capita, PPP
1x
Year Current $
Taiwan Vietnam
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 - - $5,066 -
2024 $34,238 - $4,717 $16,386
2023 $32,444 - $4,323 $15,034
2022 $32,827 - $4,148 $13,905
2021 $33,111 - $3,704 $12,049
2020 $28,705 - $3,534 $11,609
2019 $25,998 - $3,441 $11,029
2018 $25,901 - $3,222 $10,010
2017 $25,121 $50,500 $2,956 $9,170
2016 $23,091 - $2,735 $8,375
2015 $22,780 $46,800 $2,578 $7,672
2014 $22,874 - $2,546 $7,297
2013 $21,973 $39,600 $2,360 $6,758
2012 $21,295 $39,400 $2,185 $6,377
2011 $20,866 $38,200 $1,951 $5,786
2010 $19,197 $35,700 $1,683 $5,389
2009 $16,933 $32,000 $1,226 $5,061
2008 $18,081 $31,100 $1,164 $4,844
2007 $17,757 $30,100 $926 $4,581
2006 $16,934 $29,500 $808 $4,237
2005 $16,456 $27,500 $711 $3,894
2004 $15,317 $25,300 $565 $3,543
2003 $14,066 $23,400 $497 $3,240
2002 $13,686 $18,000 $445 $3,002
2001 $13,397 $17,200 $419 $2,809
2000 $14,908 $17,400 $404 $2,614
1999 $13,804 $16,100 $376 $2,421
1998 $12,820 - $361 $2,308
1997 $14,020 - $362 $2,189
1996 $13,641 - $337 $2,019
1995 $13,119 - $287.8 $1,841
1994 $12,150 - $229.9 $1,674
1993 $11,242 - $189.4 $1,534
1992 $10,768 - $144.5 $1,413
1991 $9,125 - $143.7 $1,298
1990 $8,205 - $98.8 $1,210
1989 $7,613 - $98.1 -
1988 $6,370 - $405 -
1987 $5,350 - $595 -
1986 $4,036 - $436 -
1985 $3,314 - $238.6 -
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 2026-07-08); World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); Central Intelligence Agency (CIA) (1999–2017, retrieved 2026-07-08).

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

Taiwan's GDP per capita is $34,238, ranking 38/197, compared to $5,066 in Vietnam, ranking 122/197. Adjusted for purchasing power (GDP per capita PPP), Taiwan ranks 44th at $50,500, while Vietnam ranks 108th at $16,386.

Economic indicators

Taiwan Vietnam
Gross domestic product
$802B
2024
$515B
2025
GDP rank
22/197
2024
33/197
2025
GDP growth
2.16%
2023-2024
8.02%
2024-2025
GDP per capita
$34,238
2024
$5,066
2025
GDP per capita rank
38/197
2024
122/197
2025
GDP per capita, PPP
$50,500
2017
$16,386
2024
GDP per capita PPP rank
44/197
2017
108/197
2024
Government debt
$215B
2024
$156B
2025
Debt-to-GDP ratio
22.4%
2025
30.3%
2025
Government debt per person
$9,170
2024
$1,537
2025
Government debt per person rank
64/185
2024
130/185
2025
Average annual personal income after taxes
$18,863
2026
$5,133
2026
Market capitalization of domestic companies n/a
$316B
2025
Number of millionaires
772,000
2026
n/a
Number of billionaires
66
2026
5
2026
Income share by richest 10% n/a
28.1%
2022
Income share by poorest 10% n/a
2.6%
2022
Government expenditure, % of GDP
15.8%
2024
22.1%
2025
Consumer prices inflation
1.7%
2024-2025
3.3%
2024-2025
Central bank interest rate
2%
2024
4.5%
2023
Unemployment rate
3.35%
2025
1.53%
2024
Population
23229461
102486146

Spending and national debt comparison by year

Taiwan
Spending

Debt
Vietnam
Spending

Debt
1x
Year % of GDP
Taiwan Vietnam
Government spending Government debt Government spending Government debt
2025 - 22.4% 22.1% 30.3%
2024 15.8% 26.8% 19.1% 31.2%
2023 17.1% 29% 18.8% 34.3%
2022 16% 29.5% 18.2% 34.9%
2021 15.4% 30.1% 20.1% 39.2%
2020 16.2% 32% 21.3% 41.3%
2019 15.3% 32.6% 19.8% 41%
2018 15.4% 33.8% 20.5% 43.8%
2017 15.4% 34.5% 21.5% 46.6%
2016 15.6% 35.4% 22.2% 47.9%
2015 15.5% 35.9% 24.2% 46.1%
2014 - 37.5% 22.8% 43.6%
2013 - 38.9% 24.5% 41.4%
2012 - 39.2% 23.5% 38.3%
2011 18.3% 38.3% 21.2% 36.2%
2010 - 36.9% 23.7% 37.3%
2009 - 36.7% 25% 36.2%
2008 - 33.4% 21.4% 31%
2007 - 32.2% 22.3% 32.2%
2006 - 33.3% 20.5% 30.2%
2005 - 34.1% 20.6% 28.7%
2004 - 33.4% 19.4% 29.4%
2003 - 32.1% 22.2% 29.8%
2002 - 29.8% 19.7% 27.7%
2001 22.4% 30.1% 19.2% 25.4%
2000 - 26.2% 17.8% 24.8%
1999 - 23.7% 16.7% -
1998 - 23.7% 16% -
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 20.3% - - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1997–2025, retrieved 2026-07-08); National Statistics, Taiwan (1976–2024, retrieved 2026-07-08).

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

In 2025, Taiwan's government spending was $127B, accounting for 15.8% of its GDP, while Vietnam spent $114B, or 22.1% of GDP.

Debt-to-GDP ratio is 22.4% in Taiwan and 30.3% in Vietnam, ranking 170/185 and 153/185, respectively.

Government deficit by year

Deficit/surplus
Taiwan

Vietnam
1x
Year Deficit/surplus, % of GDP
Taiwan Vietnam
2025 - -2.2%
2024 0.43% -1.54%
2023 -0.61% -1.72%
2022 0.17% 0.67%
2021 -0.18% -1.43%
2020 -1.03% -2.86%
2019 0.11% -0.4%
2018 0.02% -1.02%
2017 -0.14% -1.96%
2016 -0.31% -3.16%
2015 0.1% -4.98%
2014 - -5.02%
2013 - -5.96%
2012 - -5.46%
2011 -2.15% -0.9%
2010 - -2.25%
2009 - -4.82%
2008 - -0.45%
2007 - -1.74%
2006 - 0.2%
2005 - -0.95%
2004 - -0.15%
2003 - -2.56%
2002 - -1.85%
2001 -3.7% -2.19%
2000 - -1.61%
1999 - -1.25%
1998 - -0.1%
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 1.32% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1998–2025, retrieved 2026-07-08); National Statistics, Taiwan (1976–2024, retrieved 2026-07-08).

GeoRank.org/economy/taiwan/vietnam | 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 Vietnam's deficit of $7.31B, or 1.54% of GDP.

Over the past 27 years, Taiwan recorded a fiscal deficit in 7 of those years, while Vietnam ran a deficit in 25 years. On average, Taiwan posted an annual deficit equal to 0.61% of GDP, compared to deficit of 2.05% of GDP for Vietnam.

Inflation comparison by year

Inflation
Taiwan

Vietnam
1x
Year Consumer prices inflation
Taiwan Vietnam
2025 1.7% 3.3%
2024 2.2% 3.6%
2023 2.5% 3.3%
2022 2.9% 3.2%
2021 2% 1.8%
2020 -0.2% 3.2%
2019 0.6% 2.8%
2018 1.4% 3.5%
2017 0.6% 3.5%
2016 1.4% 2.7%
2015 -0.3% 0.6%
2014 1.2% 4.1%
2013 0.8% 6.6%
2012 1.9% 9.1%
2011 1.4% 18.7%
2010 1% 10.5%
2009 -0.9% 6.7%
2008 3.5% 23.1%
2007 1.8% 8.3%
2006 0.6% 7.5%
2005 2.3% 8.4%
2004 1.6% 7.9%
2003 -0.3% 3.3%
2002 -0.2% 4.1%
2001 0% -0.3%
2000 1.2% -1.8%
1999 0.2% 4.1%
1998 1.7% 7.2%
1997 0.9% 3.1%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Taiwan has recorded an average annual inflation rate of 1.16%, compared with 5.59% in Vietnam. In 2025, inflation was 1.7% in Taiwan and 3.3% in Vietnam.

Balance of trade

Taiwan Vietnam
Current account balance
$113B
2024
$30.2B
2024
Current account balance ranking
5/190
2024
18/190
2024
Current account balance, % of GDP
+14.1%
2024
+6.33%
2024
Goods imports n/a
$363B
2024
Goods exports n/a
$407B
2024
Service imports n/a
$35.6B
2024
Service exports n/a
$25B
2024
Imports of goods and services, % of GDP
54.5%
2025
92.1%
2025
Exports of goods and services, % of GDP
73.6%
2025
98.2%
2025

Economic freedom indices

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

Taiwan Vietnam
Economic freedom 79.8 64.4
Economic freedom ranking 6/197 73/197
Property rights 83.4 47.3
Government integrity 74.3 39.2
Judicial effectiveness 94.3 31.3
Tax burden 78.9 80.9
Government spending 90 89.5
Fiscal health 92.9 96.9
Business freedom 78.6 70
Labor freedom 69 54.7
Monetary freedom 80.3 73.2
Trade freedom 86 79.8
Investment freedom 70 60
Financial freedom 60 50

Economic freedom comparison by year

Taiwan
Vietnam
1x
Year Economic freedom index
Taiwan Vietnam
2026 79.8 64.4
2025 79.7 65.2
2024 80 62.8
2023 80.7 61.8
2022 80.1 60.6
2021 78.6 61.7
2020 77.1 58.8
2019 77.3 55.3
2018 76.6 53.1
2017 76.5 52.4
2016 74.7 54
2015 75.1 51.7
2014 73.9 50.8
2013 72.7 51
2012 71.9 51.3
2011 70.8 51.6
2010 70.4 49.8
2009 69.5 51
2008 70.3 50.4
2007 69.4 49.8
2006 69.7 50.5
2005 71.3 48.1
2004 69.6 46.1
2003 71.7 46.2
2002 71.3 45.6
2001 72.8 44.3
2000 72.5 43.7
1999 71.5 42.7
1998 70.4 40.4
1997 70 38.6
1996 74.1 40.2
1995 74.2 41.7

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Taiwan is 79.8, ranking 6/197, compared to 64.4 for Vietnam, ranking 73/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Taiwan Vietnam
Services, % of GDP
58.1%
2024
42.7%
2025
Industry, % of GDP
40.4%
2024
37.6%
2025
Agriculture, forestry, and fishing, % of GDP
1.46%
2024
11.6%
2025
GNI, Atlas method
$832B
2024
$505B
2025
GNI per capita, PPP n/a
$17,580
2025
Total reserves including gold n/a
$85.6B
2025
Total reserves ranking n/a
33/177
2025
Net foreign direct investment n/a
-$19.6B
2024
Net inflows of foreign direct investment n/a
$20.2B
2024
Net outflows of foreign direct investment n/a
$600M
2024
Servicing debt to the IMF, % of GNI n/a
7.29%
2024
Poverty at national poverty lines
1.5%
2020
4.2%
2022
Gross capital formation, % of GDP
26.9%
2024
30.8%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); National Statistics, Taiwan (1985–2024, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08)
  2. National Statistics, Taiwan (1951–2026, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1997–2025, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. Central Intelligence Agency (CIA) (1999–2020, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

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.