Editing Economy of Taiwan (section)

==Industry==
[[File:Taipei Skyline 2022.06.29.jpg|thumb|Skyline of modern [[skyscrapers]] in [[Xinyi Business Area|Xinyi Special District]], Taipei.]]
[[File:Kaohsiung_Skyline_2020.jpg|thumb|Kaohsiung skyline.]]
[[File:Taichung skyline.png|thumb|[[Taichung's 7th Redevelopment Zone]]]]

Industrial output has gradually decreased from accounting for over half of Taiwan's GDP in 1986 to just 31% in 2002.<ref name="majorind" /> Industries have gradually moved to the capital and technology-intensive industries from more labor-intensive industries, with electronics and information technology accounting for 35% of the industrial structure.<ref name="majorind" /> Industry in Taiwan primarily consists of many small and medium-sized enterprises (SME) with fewer large enterprises. Traditional labor-intensive industries are being moved off-shore and replaced with capital and technology-intensive industries.<ref>{{cite journal|url=http://www.oecd-ilibrary.org/development/taiwanese-corporations-in-globalisation-and-regionalisation_263030024237|title=Taiwanese Corporations in Globalisation and Regionalisation|first=Gee|last=San|date=1 April 1992|journal=OECD Development Centre Working Papers|access-date=27 July 2018|doi=10.1787/263030024237|archive-date=23 September 2018|archive-url=https://web.archive.org/web/20180923121032/https://www.oecd-ilibrary.org/development/taiwanese-corporations-in-globalisation-and-regionalisation_263030024237|url-status=live}}</ref> These industries are in the pre-mature stage of the [[manufacturing industry]] in various global economic competitions, and growing from the over-reliance from the [[original equipment manufacturer]] and [[original design manufacturer]] models.<ref>{{cite web|url=http://www.ddg.com.tw/en/archives/journal/acronym|title=Are Three-letter Acronyms Holding Taiwan Hostage?|website=Ddg.com.tw|date=18 July 2018 |access-date=27 July 2018|archive-date=3 May 2019 |archive-url=https://web.archive.org/web/20190503204806/http://www.ddg.com.tw/en/archives/journal/acronym |url-status=live}}</ref><ref>{{cite web|url=https://www.brookings.edu/opinions/the-transformation-of-taiwans-status-within-the-production-and-supply-chain-in-asia/|title=The Transformation of Taiwan's Status Within the Production and Supply Chain in Asia|publisher=Brookings Institution|author-first1=Da-Nien|author-last1=Liu|author-first2=Hui-Tzu|author-last2=Shih|date=4 December 2013|access-date=27 July 2018|archive-url=https://web.archive.org/web/20180612140707/https://www.brookings.edu/opinions/the-transformation-of-taiwans-status-within-the-production-and-supply-chain-in-asia/ |archive-date=12 June 2018|url-status=live}}</ref> The [[Institute for Information Industry]]<ref>{{cite web |url=http://web.iii.org.tw/ |title=III - Institute for Information Industry |website=Web.iii.org.tw |access-date=26 January 2013 |archive-date=20 June 2013 |archive-url=https://web.archive.org/web/20130620165724/http://web.iii.org.tw/ |url-status=live }}</ref><ref>{{cite web |url=http://www.find.org.tw/eng/home.asp |title=FIND-Foreseeing Innovative New Digiservices |website=Find.org.tw |url-status=dead |archive-url=https://web.archive.org/web/20101008090646/http://www.find.org.tw/eng/home.asp |archive-date=8 October 2010 }}</ref> is responsible for the development of the [[Information technology|IT]] and [[Information and communication technologies|ICT]] industry<ref>{{cite web|url=http://www.itu.int/net/pressoffice/backgrounders/general/pdf/5.pdf|title=Measuring the Information Society 2011|website=Itu.int|access-date=6 August 2018|archive-date=15 March 2016|archive-url=https://web.archive.org/web/20160315064739/http://www.itu.int/net/pressoffice/backgrounders/general/pdf/5.pdf|url-status=live}}</ref> in Taiwan. [[Industrial Technology Research Institute]] is the advanced research center for applied technology for the economy of Taiwan.<ref>{{cite web|date=1 April 2013|title=Industrial Technology Research Institute |url=http://www.itri.org.tw/eng/|website=Itri.org.tw|access-date=26 January 2013|archive-date=3 July 2013|archive-url=https://web.archive.org/web/20130703061132/http://www.itri.org.tw/eng/|url-status=live}}</ref> The [[Art in Taiwan|art industry]] is significant with sales worth $225.4 million made domestically in 2019. Taiwanese collectors and artists are also prominent in the global art market.<ref>{{cite news |last1=Chow |first1=Vivienne |title=Taipei's Thriving Art Scene Looks to Become an International Star |url=https://www.artnews.com/art-news/news/taipei-taiwan-art-cities-to-watch-1234598724/ |newspaper=Artnews.com |date=14 July 2021 |publisher=Art News |access-date=14 July 2021}}</ref>

The "e-Taiwan" project launched by the government seeks to use US$1.83 billion to improve the information and communications infrastructure in Taiwan in five major areas: government, life, business, transport, and broadband.<ref name="icttotw" /><ref name="etaiwan">{{cite web|title=e-Taiwan Program 2004|date=5 May 2005 |url=http://www.etaiwan.nat.gov.tw/content/application/etaiwan/egenerala/guest-cnt-browse.php?cnt_id=779 |access-date=23 December 2010 |url-status=dead|archive-date=21 July 2011|archive-url=https://web.archive.org/web/20110721164241/http://www.etaiwan.nat.gov.tw/content/application/etaiwan/egenerala/guest-cnt-browse.php?cnt_id=779|publisher=eTaiwan Program}}</ref> The program seeks to raise industry competitiveness, improve government efficiency, and improve the [[quality of life]], and aims to increase the number of broadband users on the island to 6 million.<ref name="etaiwan" /> In 2010, Taiwan's software market grew by 7.1% to reach a value of US$4 billion, accounting for 3.3% of the Asia-Pacific region market value. The digital content production industry grew by 15% in 2009, reaching US$14.03 billion.<ref name="icttotw" /> The [[optoelectronics]] industry (including [[flat panel display]]s and [[photovoltaics]]) totaled NT$2.2 trillion in 2010, a 40% jump from 2009, representing a fifth of the global market share.<ref>{{cite news|url=http://www.chinapost.com.tw/taiwan-business/2011/01/06/286530/Taiwans-Optoelectronics.htm|title=Taiwan's Optoelectronics industry totals NT$2.2 tril.|work=China Post|date=6 January 2011|access-date=5 January 2011|archive-date=9 January 2011|archive-url=https://web.archive.org/web/20110109035818/http://www.chinapost.com.tw/taiwan-business/2011/01/06/286530/Taiwans-Optoelectronics.htm|url-status=live}}</ref> The economy of Taiwan is a partner in the Global [[Value Chain]]s of [[Electronics Industry]].<ref>{{cite web|date=2010|title=Electronics industry stats|url=http://unstats.un.org/unsd/trade/s_geneva2011/refdocs/RDs/GVC%20in%20Electronics%20Industry%20(Sturgeon%20-%20Sep%202010).pdf|website=unstats.un.org|access-date=3 November 2012|archive-date=3 May 2019|archive-url=https://web.archive.org/web/20190503000915/https://unstats.un.org/unsd/trade/s_geneva2011/refdocs/RDs/GVC%20in%20Electronics%20Industry%20(Sturgeon%20-%20Sep%202010).pdf|url-status=live}}</ref> [[Electronic components]] and personal computer are areas of international strength of Taiwan's Information Technology industry.<ref>{{cite web|title=Data|url=http://file.icsead.or.jp/user03/927_208.pdf|website=file.icsead.or.jp|access-date=27 October 2012|archive-date=12 September 2012|archive-url=https://web.archive.org/web/20120912181206/http://file.icsead.or.jp/user03/927_208.pdf|url-status=live}}</ref>

Taiwan has a growing [[startup]] sector.<ref>{{cite news|title=Slush CSO on Taiwan's Startups: Youth Must Take the Lead|url=http://beyondertimes.com/?p=292|agency=Beyond Times|date=13 November 2015|access-date=15 August 2016|archive-url=https://web.archive.org/web/20160826235935/http://beyondertimes.com/?p=292|archive-date=26 August 2016|url-status=dead}}</ref><ref>{{cite news|last1=Leichman|first1=Abigail Klein|title=Taiwan Students Fly To Israel for a Taste of Startup Sauce|url=http://www.israel21c.org/taiwan-students-fly-to-israel-for-a-taste-of-startup-sauce/|agency=Israel 21C|date=July 2016|access-date=15 August 2016|archive-date=21 July 2016|archive-url=https://web.archive.org/web/20160721005307/http://www.israel21c.org/taiwan-students-fly-to-israel-for-a-taste-of-startup-sauce/|url-status=live}}</ref>

===Consumer goods===
Taiwan is a major producer of [[sporting goods]] with NT$59.8 billion of production in 2020, 40–50% of production is indoor fitness equipment.<ref>{{cite web |last1=Liao |first1=George |title=Taiwan's sporting goods production expected to break NT$60 billion this year |url=https://www.taiwannews.com.tw/en/news/4264996 |website=www.taiwannews.com.tw |date=5 August 2021 |publisher=Taiwan News |access-date=5 August 2021}}</ref> Taiwan is the global leader in [[golf]] equipment with 80% of global production concentrated in the country.<ref>{{cite web |last1=Wu |first1=Ching Fang |title=Taiwan's Golf Gear Manufacturers Bounce Back as Tiger Woods Returns to Glory |url=https://english.cw.com.tw/article/article.action?id=2431 |website=english.cw.com.tw |publisher=Commonwealth Magazine |access-date=5 August 2021}}</ref> The four largest golf OEM are all Taiwanese, however, these firms are increasingly selling products under their own brands.<ref>{{cite web |last1=Liu |first1=Philip |title=Swinging For the Fairway: Taiwan Golf Equipment |url=https://topics.amcham.com.tw/2015/08/swinging-for-the-fairway-taiwan-golf-equipment/ |website=topics.amcham.com.tw |date=13 August 2015 |publisher=Taiwan Topics |access-date=5 August 2021}}</ref>

The Taiwanese [[bicycle]] industry is significant. Production peaked at ten million units a year in the 1980s but declined as low end production moved abroad and domestic manufactures moved upmarket. [[Giant Bicycles]] and [[Merida Bikes]] are the largest Taiwanese bicycle manufacturers. [[Mountain bike]]s and [[ebike]]s make up much of contemporary production.<ref>{{cite web |last1=Scanlan |first1=Sean |title=Taipei Cycle: Guide to an industry geared up for change |url=https://www.taiwannews.com.tw/en/news/5108803 |website=taiwannews.com.tw |date=6 March 2024 |access-date=6 March 2024}}</ref> In 2022 the bicycle industry hit a record $6 billion US in revenue.<ref>{{cite web |title=Taiwan: The powerhouse behind the Tour De France |url=https://www.bikenews.online/index.php?route=bossblog/article&blog_article_id=616#:~:text=Taiwan%27s%20bicycle%20industry%20output%20hit,up%2026.4%25%20year%20on%20year. |website=bikenews.online |publisher=Bike News |access-date=6 March 2024}}</ref>

===Semiconductor industry===
{{Main|Semiconductor industry in Taiwan}}
The [[semiconductor]] industry, including IC manufacturing, design, and packing, forms a major part of Taiwan's IT industry.<ref name="emerging">{{cite web|title=Emerging Industries|website=Taiwan.com.au |url=http://www.taiwan.com.au/Polieco/Industry/Emerge/report01.html|access-date=19 January 2011|archive-url=https://web.archive.org/web/20090915014414/http://taiwan.com.au/Polieco/Industry/Emerge/report01.html |archive-date=15 September 2009|url-status=dead}}</ref> Due to its strong capabilities in OEM wafer manufacturing and a complete industry [[supply chain]], Taiwan has been able to distinguish itself from its competitors.<ref name="emerging" /><ref>{{cite web|url=http://sourcing.taiwantrade.com.tw/db/IndustryOverview/15.Semiconductor.pdf|archive-url=https://web.archive.org/web/20110827155627/http://sourcing.taiwantrade.com.tw/db/IndustryOverview/15.Semiconductor.pdf|url-status=dead|archive-date=27 August 2011|title=The Status of the Semiconductor Industry in Taiwan|publisher=Department of Investment Services, MOEA|access-date=19 January 2011}}</ref> The sector output reached US$39 billion in 2009, ranking first in global market share in IC manufacturing, packaging, and testing, and second in IC design.<ref name="veteran" /> [[TSMC|Taiwan Semiconductor Manufacturing Company]] (TSMC) and [[United Microelectronics Corporation]] (UMC) are the two largest contract chipmakers in the world,<ref name="toptwo" /> while [[MediaTek]] is the fourth-largest [[fabless semiconductor company|fabless]] supplier globally.<ref>{{cite web|url=http://www.icinsights.com/news/bulletins/13-Fabless-IC-Suppliers-Forecast-To-Top-10-Billion-In-Sales-In-2010/|title=13 Fabless IC Suppliers Forecast to Top $1.0 Billion in Sales in 2010!|publisher=IC Insights|date=21 December 2010|access-date=19 January 2011|archive-date=26 December 2010|archive-url=https://web.archive.org/web/20101226175010/http://www.icinsights.com/news/bulletins/13-Fabless-IC-Suppliers-Forecast-To-Top-10-Billion-In-Sales-In-2010|url-status=dead}}</ref> In 1987, TSMC pioneered the [[fabless semiconductor company|fabless foundry]] model, reshaping the global semiconductor industry.<ref name="veteran" /><ref>{{cite book|url=https://books.google.com/books?id=z_8QLeCk1rQC&pg=PA194|title=Business Network Transformation: Strategies to Reconfigure Your Business Relationships for Competitive Advantage|author=Jeffrey Word|page=194|publisher=John Wiley and Sons|year=2009|isbn=9780470528341}}</ref> From [[Industrial Technology Research Institute|ITRI]]'s first 3-inch wafer fabrication plant built in 1977<ref name="veteran">{{cite news|url=http://taiwantoday.tw/ct.asp?xItem=107417&CtNode=429|title=Veteran tells story of Taiwan's semiconductor industry|author=Meg Chang|newspaper=Taiwan Today|date=18 June 2010|access-date=19 January 2011|archive-url=https://web.archive.org/web/20110830113215/http://taiwantoday.tw/ct.asp?xItem=107417&CtNode=429|archive-date=30 August 2011|url-status=dead}}</ref> and the founding of UMC in 1980,<ref>{{cite web|url=http://web.rollins.edu/~tlairson/easia/taiwansemi.pdf|title=A Silicon Valley of the East: Creating Taiwan's Semiconductor Industry|publisher=California Management Reviews|author=John A. Matthews|year=1997|page=26|access-date=19 January 2011|archive-url=https://web.archive.org/web/20110717011745/http://web.rollins.edu/~tlairson/easia/taiwansemi.pdf|archive-date=17 July 2011|url-status=dead}}</ref> the industry has developed into a world leader with 40 fabs in operation by 2002.<ref name="emerging" /> In 2007, the semiconductor industry overtook that of the United States, second only to Japan.<ref>{{cite news|url=http://www.chinapost.com.tw/business/2007/10/29/128610/Taiwan-semiconductor.htm|title=Taiwan semiconductor output overtakes United States|work=China Post|date=29 October 2007|access-date=18 January 2011|archive-date=20 May 2011|archive-url=https://web.archive.org/web/20110520235459/http://www.chinapost.com.tw/business/2007/10/29/128610/Taiwan-semiconductor.htm|url-status=live}}</ref> Although the [[2008 financial crisis]] affected sales and exports,<ref>{{cite web|url=http://www.rncos.com/Blog/2010/01/Taiwan-Semiconductor-Industry-Records-Fastest-YOY-Growth.html|title=Taiwan's Semiconductor Industry Records Fastest YOY Growth|publisher=RNCOS|date=6 January 2010|access-date=19 January 2011|archive-date=25 May 2010|archive-url=https://web.archive.org/web/20100525232054/http://www.rncos.com/Blog/2010/01/Taiwan-Semiconductor-Industry-Records-Fastest-YOY-Growth.html|url-status=live}}</ref> the industry has rebounded with companies posting record profits for 2010.<ref>{{cite news|url=https://www.google.com/hostednews/afp/article/ALeqM5hYEUrZ2T1YoJX0w55juhTc-IAHhA?docId=CNG.6581f16764e24f3824cf7a659616dd6d.21|title=Taiwan's TSMC sales rise more than 40% in 2010|agency=Agence France-Presse|date=10 January 2011|access-date=19 January 2011|archive-date=26 February 2014|archive-url=https://web.archive.org/web/20140226121901/http://www.google.com/hostednews/afp/article/ALeqM5hYEUrZ2T1YoJX0w55juhTc-IAHhA?docId=CNG.6581f16764e24f3824cf7a659616dd6d.21|url-status=dead}}</ref><ref>{{cite news|url=http://www.taipeitimes.com/News/biz/archives/2011/01/08/2003492933|title=UMC posts record annual sales as foundry picks up|work=Taipei Times|date=8 January 2011|access-date=19 January 2011|page=12|archive-date=8 October 2012|archive-url=https://web.archive.org/web/20121008180948/http://www.taipeitimes.com/News/biz/archives/2011/01/08/2003492933|url-status=live}}</ref> The international industrial forecast of semiconductor manufacturing, which is the flagship industry of the economy of Taiwan that faces immense competition ahead with its American counterparts.<ref>{{cite web|author=Agam Shah|date=8 May 2013|title=Intel: We don't see the end of Moore's Law yet|url=http://www.citeworld.com/mobile/21843/intel-moores-law-not-dead?page=0|access-date=4 March 2015|work=CITEworld|archive-date=1 March 2014|archive-url=https://web.archive.org/web/20140301110047/http://www.citeworld.com/mobile/21843/intel-moores-law-not-dead?page=0|url-status=live}}</ref><ref>{{cite news|title=Science and technology: No Moore? - The Economist|url=https://www.economist.com/news/21589080-golden-rule-microchips-appears-be-coming-end-no-moore|access-date=4 March 2015|newspaper=The Economist|archive-date=27 February 2015|archive-url=https://web.archive.org/web/20150227082428/http://www.economist.com/news/21589080-golden-rule-microchips-appears-be-coming-end-no-moore|url-status=live}}</ref> By 2020 Taiwan was the unmatched leader of the global semiconductor industry with [[TSMC|Taiwan Semiconductor Manufacturing Company]] (TSMC) alone accounting for more than 50% of the global market.<ref>{{cite web |last1=Chien-chung |first1=Chang |last2=Huang |first2=Frances |title=Taiwan to remain largest semiconductor material market in 2020, 2021 |url=https://focustaiwan.tw/sci-tech/202009220024 |website=focustaiwan.tw |date=22 September 2020 |publisher=Focus Taiwan |access-date=17 November 2020}}</ref>

===Information technology===
[[File:TSMC in Tainan Science Park.JPG|thumb|right|A [[TSMC]] factory in [[Southern Taiwan Science Park|Tainan Science Park]], one of the many companies that make up Taiwan's IT industry]]

Taiwan's information technology industry has played an important role in the worldwide IT market over the last 20 years.<ref name="majorind" /> In 1960, the [[electronics]] industry in Taiwan was virtually nonexistent.<ref>{{cite book|last=Chang|first=Chun-Yen|title=Made by Taiwan: booming in the information technology era|publisher=World Scientific|year=2001|page=vii|url=https://books.google.com/books?id=dTJCttEkGnoC|isbn=9789810247799}}</ref> However, with the government's focus on development of expertise with high technology, along with marketing and management knowledge to establish its own industries, companies such as [[TSMC]] and [[United Microelectronics Corporation|UMC]] were established.<ref>{{cite book|last=Chang|first=Chun-Yen|title=Made by Taiwan: booming in the information technology era|publisher=World Scientific|year=2001|page=x|url=https://books.google.com/books?id=dTJCttEkGnoC&q=taiwan%20information%20technology&pg=PR10|isbn=9789810247799|access-date=12 November 2015|archive-date=2 May 2016|archive-url=https://web.archive.org/web/20160502065952/https://books.google.com/books?id=dTJCttEkGnoC&lpg=PP1&dq=taiwan%20information%20technology&pg=PR10|url-status=live}}</ref> The industry used its industrial resources and product management experience to cooperate closely with major international suppliers to become the [[research and development]] hub of the Asia-Pacific region.<ref name="majorind" /> The structure of the industry in Taiwan includes a handful of companies at the top along with many small and medium-sized enterprises (SME) which account for 85% of industrial output.<ref name="majorind" /> These SMEs usually produce products on an [[original equipment manufacturer]] (OEM) or [[original design manufacturer]] (ODM) basis, resulting in less resources spent on research and development.<ref name="majorind" /> Due to the emphasis of the OEM/ODM model, companies are usually unable to make in-depth assessments for investment, production, and marketing of new products, instead relying upon importation of key components and advanced technology from the United States and Japan.<ref name="majorind" /> Twenty of the top information and communication technology (ICT) companies have International Procurement Offices set up in Taiwan.<ref name="icttotw" /> As a signer of the [[Information Technology Agreement]],<ref>{{cite web|url=http://www.wto.org/english/tratop_e/inftec_e/itscheds_e.htm|title=Schedules of concessions|publisher=World Trade Organization|access-date=23 December 2010|archive-date=3 February 2018|archive-url=https://web.archive.org/web/20180203125107/https://www.wto.org/english/tratop_E/inftec_e/itscheds_e.htm|url-status=live}}</ref> Taiwan phased out [[tariff]]s on IT products since 1 January 2002.<ref name="icttotw">{{cite web|url=http://www.austrade.gov.au/ICT-to-Taiwan/default.aspx|title=ICT to Taiwan|publisher=Australian Government|date=18 November 2010|access-date=23 December 2010|archive-date=10 January 2011|archive-url=https://web.archive.org/web/20110110052238/http://www.austrade.gov.au/ICT-to-Taiwan/default.aspx|url-status=live}}</ref>

Taiwan is a hub for global computing, telecommunications, and data management with a number of large server farms operating in the country. Google's data center in Changhua is believed to be the largest in Asia. Taiwan is well connected to the global undersea fiber optic cable network and serves as a substantial traffic interchange.<ref>{{cite web |last1=Chan |first1=KG |title=Taiwan lures businesses amid Hong Kong jitters |url=https://asiatimes.com/2020/06/taiwan-lures-businesses-amid-hong-kong-jitters/ |website=asiatimes.com |date=19 June 2020 |publisher=Asia Times |access-date=19 June 2020 |archive-date=21 June 2020 |archive-url=https://web.archive.org/web/20200621072006/https://asiatimes.com/2020/06/taiwan-lures-businesses-amid-hong-kong-jitters/ |url-status=live }}</ref>

===Agriculture===
[[File:Taiwan 2009 WuHe County Tea Plantation FRD 6216.jpg|thumb|right|A tea plantation in [[Ruisui, Hualien|Ruisui]], [[Hualien County|Hualien]], part of Taiwan's agricultural industry which served as the backbone for its [[Taiwan Miracle|economic miracle]]]]
{{Main|Agriculture in Taiwan}}
Agriculture has served as a strong foundation for Taiwan's [[Taiwan Miracle|economic miracle]].<ref>{{cite web|url=http://www.taiwan-agriculture.org/agriculture/eng1.html|title=Land and Natural Environment|publisher=Council of Agriculture, Executive Yuan|access-date=23 December 2010|archive-date=28 July 2011|archive-url=https://web.archive.org/web/20110728081359/http://www.taiwan-agriculture.org/agriculture/eng1.html|url-status=live}}</ref> It contributes 3% to GDP and the service sector makes up 73% of the economy. After [[Retrocession of Taiwan|retrocession]] from Japan in 1945, the government announced a long-term strategy of "developing industry through agriculture, and developing agriculture through industry".<ref name="preface">{{cite web|url=http://www.gio.gov.tw/info/taiwan-story/agriculture/eframe/frame2.htm|title=The Story of Taiwan: Preface|publisher=Government Information Office, ROC|access-date=23 December 2010|url-status=dead|archive-url=https://web.archive.org/web/20111114005957/http://www.gio.gov.tw/info/taiwan-story/agriculture/eframe/frame2.htm|archive-date=14 November 2011}}</ref> As such, agriculture became the foundation for Taiwan's economic development during early years and served as an anchor for growth in industry and commerce. Whereas in 1951, agricultural production accounted for 35.8% of Taiwan's GDP,<ref name="preface" /> by 2013, it had been vastly surpassed, and its NT$475.90 billion accounted for only 1.69% of the GDP. {{As of|2013}}, Taiwan's agriculture was a mixture of crops (47.88%), livestock (31.16%), fishery (20.87%), and forestry (0.09%).<ref>{{cite web |url=http://www.ey.gov.tw/en/cp.aspx?n=30F733C2E2070422 |title=Executive Yuan, R.O.C. (Taiwan)-Agriculture |access-date=11 July 2015 |url-status=dead |archive-url=https://web.archive.org/web/20150924023724/http://www.ey.gov.tw/en/cp.aspx?n=30F733C2E2070422 |archive-date=24 September 2015 }}</ref> Since its accession into the [[World Trade Organization]] and the subsequent trade liberalization, the government has implemented new policies to develop the sector into a more competitive and modernized green industry.<ref name="twauagri">{{cite web|url=http://www.taiwan.com.au/Polieco/Industry/Agriculture/report01.html|title=Agriculture|website=Taiwan.com.au|access-date=23 December 2010|url-status=dead|archive-url=https://web.archive.org/web/20090915020546/http://taiwan.com.au/Polieco/Industry/Agriculture/report01.html|archive-date=15 September 2009}}</ref>

Although only about one-quarter of Taiwan's land area is suitable for farming, virtually all farmland is intensely cultivated, with some areas suitable for two and even three crops a year. However, increases in agricultural production have been much slower than industrial growth. Agricultural modernization has been inhibited by the small size of farms and the lack of investment in better facilities and training to develop more profitable businesses.<ref name="twauagri" /> Taiwan's agricultural population has steadily decreased from 1974 to 2002, prompting the [[Council of Agriculture]] to introduce modern farm management, provide technical training, and offer counseling for better production and distribution systems.<ref name="twauagri" /> Promotion of farm [[mechanization]] has helped to alleviate labor shortages while increasing productivity; both rice and [[sugar cane]] production are completely mechanized.<ref>{{cite web|url=http://www.taiwan-agriculture.org/agriculture/eng3.html|title=Mechanization|publisher=Council of Agriculture, Executive Yuan|access-date=23 December 2010|archive-date=28 July 2011|archive-url=https://web.archive.org/web/20110728081453/http://www.taiwan-agriculture.org/agriculture/eng3.html|url-status=live}}</ref> Taiwan's main crops are rice, sugar cane, fruits (many of them tropical), and vegetables. Although self-sufficient in rice production, Taiwan imports large amounts of wheat, mostly from the United States. Meat production and consumption have risen sharply, reflecting a high standard of living. Taiwan has exported large amounts of frozen pork, although this was affected by an outbreak of hoof and mouth disease in 1997. Other agricultural exports include fish, aquaculture, and sea products, canned and frozen vegetables, and grain products. Imports of agriculture products are expected to increase due to the WTO accession, which is opening previously protected agricultural markets.{{Citation needed|date=July 2021}}

===Energy===
[[File:Wind power.JPG|thumb|Wind turbines, such as these in [[Qingshui District|Qingshui]], [[Taichung]], are part of the government's efforts in [[renewable energy commercialisation]]]]
{{Main|Energy in Taiwan}}

Due to the lack of [[natural resources]] on the island, Taiwan is forced to import many of its energy needs (currently at 98%).<ref>{{cite web|url=http://www.moeaboe.gov.tw/About/webpage/book_en1/page0.htm|title=Sustainable Development of Renewable Energy|publisher=Ministry of Economic Affairs, Bureau of Energy|access-date=25 December 2010|url-status=dead|archive-url=https://web.archive.org/web/20111008140830/http://www.moeaboe.gov.tw/About/webpage/book_en1/page0.htm|archive-date=8 October 2011}}</ref> Imported energy totaled US$11.52 billion in 2002, accounting for 4.1% of its GDP.<ref name="energy">{{cite web|url=http://www.taiwan.com.au/Polieco/Industry/Energy/report01.html|title=Energy|website=Taiwan.com.au|access-date=25 December 2010|url-status=dead|archive-url=https://web.archive.org/web/20090915013809/http://taiwan.com.au/Polieco/Industry/Energy/report01.html|archive-date=15 September 2009}}</ref> Although the industrial sector has traditionally been Taiwan's largest energy consumer, its share has dropped in recent years from 62% in 1986 to 58% in 2002.<ref name="energy" /> Taiwan's energy consumption is dominated by crude oil & petroleum products (48.52%), followed by coal (29.2%), natural gas (12.23%), [[nuclear power]] (8.33%), and [[hydroelectric power]] (0.28%).<ref>{{cite web|url=http://web3.moeaboe.gov.tw/ECW/english/content/wHandMenuFile.ashx?menu_id=1579|title=Energy Supply|publisher=Ministry of Economic Affairs, Bureau of Energy|access-date=24 November 2015|archive-date=4 March 2016|archive-url=https://web.archive.org/web/20160304094637/http://web3.moeaboe.gov.tw/ECW/english/content/wHandMenuFile.ashx?menu_id=1579|url-status=live}}</ref> The island is also heavily dependent on imported oil, with 72% of its crude oil coming from the Middle East in 2002. Although the [[Taiwan Power Company]] (Taipower), a state-owned enterprise, is in charge of providing electricity for the Taiwan area, a 1994 measure has allowed [[Independent Power Producer|independent power producers]] (IPPs) to provide up to 20% of the island's energy needs.<ref name="eia">{{cite web|url=http://www.eia.doe.gov/emeu/cabs/taiwan.html|title=Taiwan|publisher=Energy Information Administration, Department of Energy, USA|access-date=25 December 2010|url-status=dead|archive-url=https://web.archive.org/web/20061215030951/http://www.eia.doe.gov/emeu/cabs/taiwan.html|archive-date=15 December 2006}}</ref> [[Indonesia]] and [[Malaysia]] supply most of Taiwan's natural gas needs.<ref name="eia" /> It currently has three operational nuclear power plants. A fourth plant under construction was mothballed in 2014.<ref>{{cite news |url=http://www.taipeitimes.com/News/front/archives/2015/02/04/2003610768 |title=AEC approves plan to shutter fourth nuclear facility |author=Lin, Sean |date=4 February 2015 |newspaper=Taipei Times |access-date=5 March 2015 |archive-date=9 February 2015 |archive-url=https://web.archive.org/web/20150209060829/http://www.taipeitimes.com/News/front/archives/2015/02/04/2003610768 |url-status=live }}</ref>

Although Taiwan's per capita energy use is on par with neighboring Asian countries,<ref>{{cite web|url=http://www.moeaboe.gov.tw/Download/opengovinfo/Plan/all/energy_year/main_en/files/01/chart-05.pdf|archive-url=https://www.webcitation.org/5ylfo8RFw?url=http://www.moeaboe.gov.tw/Download/opengovinfo/Plan/all/energy_year/main_en/files/01/chart-05.pdf|url-status=dead|archive-date=18 May 2011|title=Per Capita GDP and Primary Energy Consumption in Major Countries (2007)|publisher=Ministry of Economic Affairs, Bureau of Energy|access-date=25 December 2010}}</ref> in July 2005 the [[Ministry of Economic Affairs (Republic of China)|Ministry of Economic Affairs]] announced plans to cut 170 million tons of [[carbon dioxide]] [[Greenhouse gas#Greenhouse gas emissions from human activities|emissions]] by 2025.<ref name="eia" /> In 2010, carbon dioxide emissions have been reduced by 5.14 million metric tons.<ref name="cens">{{cite news|url=http://news.cens.com/cens/html/en/news/news_inner_34698.html|title=Taiwan's Green Energy Production Value Surges to NT$340B. in First 11 Months of 2010|publisher=CENS|date=23 December 2010|access-date=25 December 2010|url-status=dead|archive-url=https://web.archive.org/web/20110724032914/http://news.cens.com/cens/html/en/news/news_inner_34698.html|archive-date=24 July 2011}}</ref> In order to further reduce emissions, the government also plans to increase [[efficient energy use|energy efficiency]] by 2% each year through 2020.<ref name="biofuels" /> In addition, by 2015, emissions are planned to be reduced by 7% compared to 2005 levels.<ref name="biofuels" />

Taiwan is the world's 4th largest producer of solar-powered batteries and largest [[light emitting diode|LED]] manufacturer by volume.<ref name="cens" /> In 2010, Taiwan had over 1.66 million square meters of [[Solar thermal collector|solar heat collectors]] installed, with an installation density that ranks it as third in the world.<ref>{{cite web|title=II. Solar Energy |url=http://www.moeaboe.gov.tw/About/webpage/book_en1/page2.htm|access-date=25 December 2010 |publisher=Ministry of Economic Affairs, Bureau of Energy|url-status=dead|archive-url=https://web.archive.org/web/20111008140952/http://www.moeaboe.gov.tw/About/webpage/book_en1/page2.htm |archive-date=8 October 2011}}</ref> The government has already built 155 sets of [[wind turbine]]s capable of producing 281.6 MW of electricity, and additional projects are planned or under construction.<ref>{{cite web |url=http://www.moeaboe.gov.tw/About/webpage/book_en1/page1.htm|title=I. Wind Energy|publisher=Ministry of Economic Affairs, Bureau of Energy|access-date=25 December 2010|url-status=dead|archive-url=https://web.archive.org/web/20111008141006/http://www.moeaboe.gov.tw/About/webpage/book_en1/page1.htm|archive-date=8 October 2011}}</ref> Renewable energy accounts for 6.8% of Taiwan's energy usage as of 2010.<ref name="biofuels" /> In 2010, the [[sustainable energy|green energy]] sector generated US$10.97 billion in production value.<ref name="cens" /> The government also announced plans to invest US$838 million for [[renewable energy]] promotion and an additional US$635 million for [[research and development]].<ref name="biofuels">{{cite web|url=http://www.biofuelswatch.com/investment-plan-by-taiwan/|archive-url=https://web.archive.org/web/20110718035737/http://www.biofuelswatch.com/investment-plan-by-taiwan/|url-status=dead|archive-date=18 July 2011|title=Investment Plan by Taiwan|publisher=Biofuels Watch|author=Edward C. Gates |date=25 December 2010|access-date=25 December 2010}}</ref>

===Steel and heavy manufacturing===
Taiwan, as of 2017, is the world's thirteenth-largest steel exporter. In 2018, Taiwan exported 12.2 million metric tons of steel, a one percent increase from 12.0 million metric tons in 2017. Taiwan's exports represented about 3 percent of all steel exported globally in 2017, based on available data. The volume of Taiwan's 2018 steel exports was one-sixth that of the world's largest exporter, China, and nearly one-third that of the second-largest exporter, Japan. In value terms, steel represented just 3.6 percent of the total amount of goods Taiwan exported in 2018. Taiwan exports steel to more than 130 countries and territories. Over the decade from 2009 to 2019, Taiwan grew its steel exports by 24%. In 2018, the US imported 300,000 metric tons of pipe and tube products. Taiwan has developed a vast export trade to its most proximate neighbors in flat products. Taiwan's [[stainless steel]] exports numbered 2018 about 500,000 metric tons.<ref name="usdoc">{{cite news |title=Global Steel Trade Monitor - Steel Exports Report: Taiwan |url=https://www.trade.gov/steel/countries/pdfs/exports-Taiwan.pdf |agency=International Trade Administration |publisher=US Department of Commerce |date=May 2019 |access-date=9 October 2019 |archive-url=https://web.archive.org/web/20170628011612/http://trade.gov/steel/countries/pdfs/exports-Taiwan.pdf |archive-date=28 June 2017 |url-status=dead }}</ref>

Taiwan is the fourth largest exporter of machine tools and machine tool components in the world. The greater [[Taichung]] area is home to a cluster of machine tool manufacturers.<ref>{{cite web |title=Taiwan: Supporting the Next Generation of Aerospace Manufacturing |url=https://www.mmsonline.com/blog/post/upcoming-webinar-taiwan-supporting-the-next-generation-of-aerospace-manufacturing |website=www.mmsonline.com |publisher=Modern Machine Shop |access-date=8 July 2020 |archive-date=11 July 2020 |archive-url=https://web.archive.org/web/20200711104625/https://www.mmsonline.com/blog/post/upcoming-webinar-taiwan-supporting-the-next-generation-of-aerospace-manufacturing |url-status=live }}</ref>

Taiwanese company [[Techman Robot Inc.]] is the world's second largest producer of [[cobots]].<ref>{{cite web |last1=Huang |first1=Elaine |title=This Made-in-Taiwan Robot Is Drawing International Attention |url=https://english.cw.com.tw/article/article.action?id=2436 |website=english.cw.com.tw |publisher=CommonWealth |access-date=8 July 2020 |archive-date=25 December 2019 |archive-url=https://web.archive.org/web/20191225161600/https://english.cw.com.tw/article/article.action?id=2436 |url-status=live }}</ref>

The [[automotive industry in Taiwan]] is significant, with Taiwanese firms increasingly invested in automotive electrification; 75% of [[Tesla, Inc.]]’s suppliers are Taiwanese.<ref>{{cite web |last1=Lu |first1=Kuo-chen |title=Taiwan's Tesla Boom, and Looking for More |url=https://topics.amcham.com.tw/2020/10/taiwan-tesla-boom/ |website=topics.amcham.com.tw |date=20 October 2020 |publisher=Topics |access-date=29 October 2020}}</ref>

===Maritime industries===
{{Main|Maritime industries of Taiwan}}
In 2017, Taiwan exported one hundred and sixty-two yachts.<ref>{{cite web |last1=Murray |first1=Simon |title=Yacht Building in Taiwan |url=https://www.powerandmotoryacht.com/blogs/yacht-building-in-taiwan |website=www.powerandmotoryacht.com |date=27 April 2018 |publisher=Power and Motoryacht |access-date=5 December 2019 |archive-date=12 May 2019 |archive-url=https://web.archive.org/web/20190512194601/https://www.powerandmotoryacht.com/blogs/yacht-building-in-taiwan |url-status=live }}</ref> In 2018 Taiwan was the fourth largest yacht building nation by feet of yacht built after Italy, The Netherlands and Turkey.<ref>{{cite web |title=Global Order Book |url=https://www.boatinternational.com/boat-pro?gclid=CjwKCAiA78XTBRBiEiwAGv7EKkll-NYWtl6vakPcNJKEIbx0h06xORD0y3u1ngnT89Pk9iT04N5aRRoCuacQAvD_BwE |website=www.boatinternational.com |publisher=Boat International |access-date=5 December 2019 |archive-date=12 May 2019 |archive-url=https://web.archive.org/web/20190512194617/https://www.boatinternational.com/boat-pro?gclid=CjwKCAiA78XTBRBiEiwAGv7EKkll-NYWtl6vakPcNJKEIbx0h06xORD0y3u1ngnT89Pk9iT04N5aRRoCuacQAvD_BwE |url-status=live }}</ref> Taiwan is one of the largest fishing nations on earth and the associated fish processing industry is also significant.<ref>{{cite journal |last1=Gulle |first1=Warwick |title=Fishing industry - Taiwan |url=http://ro.uow.edu.au/cgi/viewcontent.cgi?article=1143&context=lawpapers |website=ro.uow.edu.au |date=January 2009 |publisher=Berkshire Publishing Group |access-date=5 December 2019 |archive-date=12 October 2015 |archive-url=https://web.archive.org/web/20151012030306/http://ro.uow.edu.au/cgi/viewcontent.cgi?article=1143&context=lawpapers |url-status=live }}</ref>

===Tourism industry===
{{Main|Tourism in Taiwan}}