Economy of Taiwan

The economy of Taiwan is the 19th largest economy in the world. It is a developed country, meaning it has a strong economy that helps support its people. The main industries in Taiwan are electronics, chemicals, machine tools, textiles, and metal products. Most people in Taiwan work in these industries, and many people also work in service industries such as banking, finance, tourism, and medicine. Taiwan is known for having low taxes, making it attractive to businesses who want to set up operations there. It also has strong trade ties with other countries, so it can get goods or services from them when needed. This helps the economy stay strong.