USDTWD.ai Taiwan Macro Atlas

Taiwan Consumption vs Goods Exports, 2024

Goods exports were 59.7% of GDP, compared with private consumption at 47.1%.

Economy
Taiwan Consumption vs Goods Exports, 2024: Goods exports were 59.7% of GDP, compared with private consumption at 47.1%.

What the Data Shows

This comparison shows how large Taiwan’s export engine is relative to household demand. Private consumption accounted for 47.07% of GDP, while goods exports reached about 59.7% of GDP on a customs-flow basis. The contrast clarifies why Taiwan’s growth cycle is highly exposed to external demand even when domestic consumption is stable.

Data table

Goods exports / GDP 59.7% 2024 shares
Private consumption 47.1%
Gap +12.6 pp
Exports G&S 63.5% GDP share
Fixed capital 25.4% GDP share
Trade surplus 10.1% of GDP

Sources

Source 1: CBC Annual Report 2024 - Developments in the Real Economy

Publisher: Central Bank of the Republic of China (Taiwan)

Dataset/table: GDP by expenditure

Units: percent

Date checked: 2026-05-12

Evidence: CBC/DGBAS reports private consumption at 47.07% of GDP and exports of goods and services at 63.47% in 2024.

Note: CBC/DGBAS reports private consumption at 47.07% of GDP and exports of goods and services at 63.47% in 2024.

Source 2: Annual External Trade Report in 2024

Publisher: Ministry of Finance, R.O.C. (Taiwan)

Dataset/table: Trade performance table

Units: US$ million

Date checked: 2026-05-12

Evidence: MOF reports Taiwan’s 2024 goods exports at about US$475.0bn.

Note: MOF reports Taiwan’s 2024 goods exports at about US$475.0bn.

Source 3: CBC Annual Report 2024 - Balance of Payments

Publisher: Central Bank of the Republic of China (Taiwan)

Dataset/table: Current account and ratio to GDP

Units: US$ million; percent

Date checked: 2026-05-12

Evidence: CBC reports the 2024 current-account surplus and its 14.3% ratio to nominal GDP.

Note: CBC reports the 2024 current-account surplus and its 14.3% ratio to nominal GDP.

Data notes & caveats

Private consumption is a GDP expenditure component; goods exports are a customs-flow ratio. CBC reports exports of goods and services at 63.47% of GDP on the national-accounts basis.

Methodology

Private-consumption share uses CBC/DGBAS expenditure data. Goods exports as a share of GDP is derived from MOF goods exports divided by nominal GDP implied by CBC’s current-account-to-GDP ratio.

Source consistency notes

Private consumption and goods-and-services export share are same-source CBC/DGBAS values. Goods-export/GDP is a mixed official-source derived ratio using MOF exports and CBC-implied GDP.