Taiwan Economy

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Asia Fund Managers
Singapore Economy Singapores economy is highly
developed, a free market, and ranked as one of
the most open and most pro-business in the
world. This stability and attractive financial
climate sees Singapore benefit from an inward
flow of investment from both institutions and
individual investors. The city state has a
population of 5.6 million. Singapore is among
the top ten countries in the world for GDP per
capita, at a level of 103.181, with total GDP
for the country at 468 billion, in 2019. Over
the past few decades Singapores annual
percentage GDP growth has fluctuated, falling as
low as a contraction of -2.2 in 1998, and
climbing as high as 14.5 in 2010. In 2019,
Singapores economy grew by 0.7, falling from a
rate of 3.1 in 2018. Due to the COVID-19
pandemic, the IMF expects the economy to shrink
by 3.5 percent this year.
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Taiwan Economy
Taiwan, officially the Republic of China, is a
small but significant country located in East
Asia. Its surface area is only 35,808 square
kilometers, and its population is only 23.7
million, but Taiwan has nonetheless achieved
economic success. Nonetheless, due to its compact
nature geographically, Taiwan is among the most
densely populated states worldwide. The Taiwan
economy is fully developed, currently ranked
seventh largest in Asia and 22nd-largest in the
world by purchasing power parity. The IMF
considers it to be an advanced economy, and the
country has achieved this primarily by becoming
a tech industry manufacturing powerhouse. Real
GDP growth in Taiwan was 2.7 during 2019.
Historically, this was much smaller than the
approximately 13 growth that the country
experienced during one quarter of 2011, at the
peak its financial expansion. But as the
nations economy receded in size during 2016, it
can still be considered a solid step in the
right direction.
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