Economy

The driver of Taiwan’s economy is the high personal disposable income of its citizens who demand high quality food, education, and products and services.

Taiwan’s Productivity 4.0 is a US$1.13 billion nine year initiative across key sectors to help build smart diversified production facilities.These sectors inlcude:

  • IT
  • transportation
  • machinery
  • food and agriculture

Taiwan is one of the most innovative countries in the world measured by numbers of patents lodged and international designs awarded.

Trade

Taiwan is Queensland’s sixth largest export market and its unique relationship with China makes it an important market for Queensland companies.

Taiwan’s close engagement with China, its ageing demographic and need for food and energy security will drive opportunities for Queensland in the future. Taiwan is expected to be one of the oldest populations by 2030 requiring sophisticated aged care infrastructure and services.

Currently Taiwan imports almost their entire energy needs. Greater energy security will drive their increasing interest in renewable energy applications in wind, tidal and solar.  Alternative fuels, such as biofuels will also become a priority.

Investment

Taiwan is a major investor in mainland China.

Taiwan’s advanced economy is considered a gateway to China and ASEAN, with their multi-billion dollar investment footprint in these countries.

Renewable energy a focus for Taiwan.

Taiwan opportunities

CurrentMid termLong term

Current

  • Training
  • Energy
  • Fresh food
  • Processed food
  • Packaged food and ingredients
  • Technology
  • Meat

Mid term

  • Renewable energy
  • Organic food
  • Advanced technology
  • Premium foods

Long term

  • Aged care services
  • Functional food
  • Robotics
  • Biofuels
  • Advanced manufacturing

Sector opportunities in Taiwan

Renewables to meet 8% of energy needs by 2025

Urban infrastructure

Most of Taiwan’s large cities are undertaking ambitious urban renewal plans for smart cities that will procure a broad range of state of the art goods and services including

  • sustainability,
  • energy efficiency,
  • internet connectivity
  • and liveable built environments.

Imported 15.5 Billion dollars of food in 2014

Food & agribusiness

Taiwan is placing priority on food quality and safety; demanding clean and safe products.

Opportunities exist for

  • red meat,
  • natural and certified organic food,
  • fresh fruit,
  • high quality packaged food
  • and food ingredients.

VET training enrolments have tripled in last 3 years.

Education & training

Education & training continues to be a big demand push for Australia particularly in

  • English language
  • and vocational education and training.

Taiwan is Queensland’s 5th largest source country for students.

Relevant library resources Complete library

Taiwan Market Overview

September 30, 2016

Export market overview and commissioner profile for Taiwan

View this resource

Commissioner’s intel: How to take your business to Taiwan

View the videos below, and hear from TIQ’s Trade and Investment Commissioner as he speaks of the opportunities in Taiwan.

Murray Davis: Business trends in Taiwan: Emerging opportunities in the market

Murray Davis: Practical tips: Hands on advice for doing business in Taiwan

Murray Davis: Queensland-Taiwan business insights

Murray Davis: Doing business with Taiwan? Learn how TIQ can assist

Murray Davis: opportunities in food & agribusiness sector

Murray Davis: opportunities in education & training sector

Murray Davis: opportunities in urban infrastructure & knowledge industries sector

Murray Davis: A Queensland food & agribusiness success story in Taiwan

Murray Davis: Tips for entering the Taiwan market