At the other extreme, the poorest province, Guizhou, has an income per head close to that of India. In terms of GDP per capita by province, Beijing's per capita GDP remained the highest in China, rising from RMB 164,200 (approx.US$25,457) in 2020 to RMB 183,900 (approx.US$28,512) in 2021. It is also the fastest economically developing province in China with the most advanced business and trade. GDP of Taiwan Province of China increased from 299.28 billion US dollars in 2001 to 668.51 billion US dollars in 2020 growing at an average annual rate of 4.41%. . Taiwan - China Tenions : Is China plotting a two-sided war against Taiwan ? . Historically known as the "Province of Abundance", Sichuan has one of the largest economies in western China. License : CC BY-4.0. Breaking through the 11 trillion yuan ($1.71 trillion) threshold, Guangdong has retained its place as the province with the highest GDP in China for 32 years in a row. from 8 AM - 9 PM ET. GDP-2020 is a preliminary data pubilished on the 2018 CASEN: The average rate of Chinese yuan to US dollar in 2020 is according to the, the historical PPP GDP figures of Mainland China and exchange rates of Chinese yuan to Int'l. The province has been accelerating its industrial transformation and upgrading, developing five pillar industrieselectronic information, equipment manufacturing, food and beverages, advanced materials and energy, and chemicals and promoting the integrated development of the digital economy and the real economy. The rapid industrialization . List of Chinese administrative divisions by GDP, List of Chinese administrative divisions by GDP per capita, List of Chinese prefecture-level cities by GDP, List of Chinese prefecture-level cities by GDP per capita, List of country subdivisions by GDP over 200 billion US dollars, "Home - Regional - Quarterly by Province", "Report for Selected Countries and Subjects", "Download WEO Data: October 2020 Edition", https://en.wikipedia.org/w/index.php?title=List_of_Chinese_administrative_divisions_by_GDP&oldid=1120675252, This page was last edited on 8 November 2022, at 06:23. The average CNY exchange rate used here is from the National Bureau of Statistics of China, and CNY PPP exchange rates are estimated according to the International Monetary Fund (IMF). China provinces ranked by GDP: 2021. Since the implementation of reform and opening up in mainland China in 1978, its economy has developed rapidly. Provinces: GDP (CN) Normal GDP (US$) Guangdong: Jiangsu: Shandong: Zhejiang: Henan: 926.97 . | Abp news. Taiwan was returned to China from Japan at the end of the Second World War, causing several battles and thousands of deaths . From 1950 to 1965, U.S. Aid accounted for roughly 6.5% of Taiwan's GDP. Despite the short-term slowdown due to the COVID-19 epidemic, Hubei's economic recovery has been solid. China has 1,200 fighter jets, while Taiwan has a total of 288 fighter jets. lowest point: South China Sea 0 m mean elevation: 1,150 m Natural resources small deposits of coal, natural gas, limestone, marble, asbestos, arable land Land use agricultural land: 22.7% (2018 est.) It also helped give a lift to Taiwan's economy, as did its successful and rapid control of the pandemic, causing growth to exceed China's2.98 percent versus 2.3 percentfor the first time . Statistics; GDP: $759.104 billion (nominal, 2021 est.) Shanghai's GDP per person is as high as Saudi Arabia's (at purchasing-power parity), though still well below that in. This video will compare mainland China and Taiwan (Republic of China) using some of the most important aspects, which includes but not limited to GDP, GDP per capita, diplomatic. Asia. Taiwan is officially known as the Republic of China and it is the neighbor of the People's Republic of China, Japan, and the Philippines. But over time the latter has consistently been revised up, suggesting that any overstatement is modest. But underneath the headline figure there is much to be concerned about. Taiwan's GDP increased by 3.11 per cent in 2020 compared to the global average of negative 4.5 per cent. Taiwan's headline economic growth in the second quarter was 3.1% y/y, coming in below our expectations of 4.8% year-on-year growth. Since the lifting of the epidemic-induced lockdown in Wuhan on April 8, the economic recovery of its parent province has been better than expected. Its GDP per capita is among the top 30 of the world. We use cookies to personalise content and ads. This is map of Chinese provinces and SARs by GDP in US Dollars (2021), GDP figures for Hong Kong and Macau SARs are given in both US dollars and in their respective local currencies (Hong Kong dollars and Macanese patacas). Also see our other "country equivalents" interactive maps:US states as countriesIndian states and territories as countriesBrazilian states as countries, Indian states and territories as countries. Its GDP jumped to 6.46 trillion yuan in 2020, and has ranked fourth in China for 23 consecutive years. Not only so, but the province also has a higher DGP per capita than both Beijing and Shanghai. Hubei province's GDP growth increased from -39.2 percent in the first quarter of the year to -19.3 percent in the first half of the year, and -10.4 percent in the first nine months. As of 2020, Taiwan remains to be the highest GDP per capita in all provinces of China. It is close to that of South Korea and equal to the sum of the GDPs of Switzerland, Singapore, Argentina and Ukraine. As a promising region, Jiangsu is characterized by a strong economy, wealthy people, beautiful environment and a high degree of social civilization in this new development period. Business. The stimulus worked: the funds sparked Taiwan's economy and resulted in self-sustainable and rapid economic growth. A news report from investinchina.chinadaily.com.cn: Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Taiwan's economy is growing rapidly. World Bank national accounts data, and OECD National Accounts data files. China's largest economy Guangdong has a GDP (nominal) of around 1,605.84 billion US $. So from an aspect of individual economy, yes, life is good and they are rich. The article lists China's province-level divisions by gross domestic product (GDP). This figure exceeds the GDP of more than 90 percent of the world's countries. Despite the recent tensions between China and Taiwan, research suggests that many Taiwanese people are relatively untroubled. It has the most gold reserves and output as well as abundant sea salt and a diverse array of coastal bird species. Percent of GDP: 1.7%: 2.3%: Military budget Highest value in the world: 738 billion . It is one of the most attractive places for investors, with a great deal of market vigor. Shandong is also a major producer and supplier of petroleum, coal and nonferrous metal. US 7%, Taiwan 6% (2019) Debt - external: $96.58 billion (31 December 2017 est.) The entire land coverage of the land is approximately 36,000, making it an incredibly small nation with a relatively large population. Currency: Sticky Currency Switch to metric measurement units. It is actively promoting an open economy of higher standards amid the country's ongoing reform and opening-up. Each province's GDP is listed in both the national currency renminbi (CN), and at nominal U.S. dollar values according to annual average exchange rates and according to purchasing power parity (PPP). All figures are given in the national currency, renminbi (CNY), and in USD at nominal values according to recent exchange rates as well as according to purchasing power parity (PPP). * In terms of population, South Korea has 50M compared to Taiwan's 23M. Per $ GDP figures expressed per 1 $ gross domestic product. The Republic of China (ROC) - one of the victors in the war - began ruling Taiwan with the consent of its allies, the US and UK. GDP (purchasing power parity) $22,526,502,000,000 (2019 est.) Gross Domestic Product & Income Financial system and Human development World Economics has reassessed Taiwan's GDP by adjusting for any base year age and size of the informal economy to estimate GDP PPP at $1,700 billion - 38% larger than offical estimates. . China has also pressured global corporations, including airlines and hotel chains, to list Taiwan as a Chinese province. " Guangdong 's gross domestic product grows by more than US$30 billion a year, while Taiwan 's grows by about US$10 billion. Taiwan, China Overview By Theme By SDG Goal Topic Social Economic Environment Institutions Social Indicator Most recent value Trend Poverty headcount ratio at $2.15 a day (2017 PPP) (% of population) No data available Life expectancy at birth, total (years) No data available Population, total No data available Population growth (annual %) However, it&#;s GDP is only 10 times greater. Shanghai's per capita GDP ranked second among all regions . PPP figures are given in Int'l. Note that these figures use the same PPP conversion rate for the whole of China, but prices are likely to be lower in poorer provinces than in richer ones, slightly reducing regional inequality. GDP (current US$) - Taiwan, China. The GDP of East China's Fujian province reached 4.23 trillion yuan ($592.9 billion) in 2019, surpassing that of the island of Taiwan for the first time and laying a solid foundation for the integrated development of both sides across the Taiwan Straits, according to a report by Xinhua News Agency on May 27. . GDP per person in Guizhou is lower than that of the African countries Congo-Brazzaville and Swaziland. A coastal province in the southeastern part of the country, Fujian has seen rapid development over the past five years. . The economy of Taiwan is a highly developed free-market economy. Local Purchasing Power in Taiwan is 9.28% higher than in China. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The 2nd largest economy Jiangsu is equivalent to Portugal. If there is an emergency, sometimes trainer aircraft are also included in the war. This places Taiwan in 94th place in the World Economics . Henan's economic volume has ranked first among those of the provinces and regions in the central and western region and among the top five in China for several consecutive years. Thus, Taiwan is not a member of the United Nations. $19,887,033,000,000 (2017 est.) By : ABP News Bureau | Updated : 19 Aug 2022 12:37 PM (IST). This to-scale map shows a size comparison of Taiwan compared to China . Guangdong exports as much as South Korea, Jiangsu as much as Taiwan. At the same time, China's GDP was 387.8 billion dollars. Taiwan's GDP was almost 3.34 trillion RMB in 2016, which equals to China's Sichuan province's GDP (3.27 trillion RMB). In 2020, Taiwan's gross domestic product amounted to around 669.25 billion U.S. dollars. When typing in this field, a list of search results will appear and be automatically updated as you type. 13 Oct. Defiant Taiwan's identity is moving away from China. In Taiwan, however, that number is 1.5% as of 2012. Economy of Taiwan. By 2020, the per capita GDP of mainland China exceeded US$10,000, of which Beijing and Shanghai exceeded US$22,000, Jiangsu was nearly US$18,000, Fujian exceeded US$15,000, Zhejiang and Tianjin exceeded US$14,000, Guangdong and Chongqing exceeded US$11,000 and Hubei, Inner Mongolia and Shandong exceeded US$10,000. All information comes from data.worldbank.org, wikipedia.org, cia.gov, imf.org and government websites. Economic development has progressed further in coastal provinces than in the interior, and by 2016 more than 169.3 million migrant workers and their dependents had relocated to urban areas to find work. It is the most populous country in the world with one of the largest economies and imports that influence everyone. Jiangsu comes in second place after south China's Guangdong, with a GDP surpassing 10 trillion yuan. In 1990, Taiwan's GDP was 170 billion dollars. All rights reserved. BEIJING, April 16, 2021 /PRNewswire/ -- A news report from investinchina.chinadaily.com.cn: The world's second-largest economy grew by 2.3 percent in 2020, and it is likely to be the only major economy to have achieved annual growth, according to the National Bureau of Statistics. Only about 25 countries recognize Taiwan as an . This has been changed to refer to domestic exports only. By GDP 5-years average growth and GDP per capita, China and Taiwan ranked 12th vs 115th and 76th vs 38th, respectively. source: World Bank 10Y 25Y 50Y MAX Chart Compare Export API Embed Taiwan GDP Owner of this site is not responsible for potential mistakes or lacks of data. China is a country located in Eastern Asia with an area of 9,596,961 km 2 (land boundries: 22,457 km and costline 14,500 km). Like the U.S., China also had a two-year limit on presidents. Asia. These 20 provinces were Tibet, Xinjiang, Guizhou, Yunnan, Hebei, Chongqing, Gansu, Ningxia, Sichuan, Guangxi, Jiangsu, Zhejiang, Shandong, Hainan, Fujian, Anhui, Hunan, Jiangxi, Shanxi and Jilin. 10 Oct. You can change your cookie settings at any time. Restaurants. Taiwan Province of China - Gross domestic product in current prices 668.51 (billion US dollars) in 2020 In 2020, GDP for Taiwan Province of China was 668.51 billion US dollars. The political status of Taiwan Province along with a small fraction of Fujian Province remain in dispute; those are under separate rule by the Republic of China, which is usually referred to as "Taiwan". The East region encompasses Beijing and all of China's east coast provinces with the exception of Liaoning, which covers a small stretch of China's coast just north of Hebei. The Taiwanese economy expanded 4.10 percent year-on-year in the third quarter of 2022, beating market forecasts of a 3.2 percent advance and accelerating from a 3.05 percent expansion in the previous quarter, according to preliminary figures. China vs Taiwan. FRED: Download, graph, and track economic data. Whereas, Taiwan has only 741 aircraft. TSAI has made more progress on boosting trade with South and Southeast Asia, which may help insulate Taiwan's economy from a fall in mainland demand should China's growth slow in 2018. This means that there are many regions within the country where the residents may not actually speak . $84.34 billion (31 December . Per capita gross domestic product (GDP) in China 2020, by region Published by C. Textor , Nov 23, 2021 In 2020, the annual per capita gross domestic product (GDP) in different provinces,. 1.3 Share this: 1.4 Like this: A comparison between 33 Chinese administrative divisions and countries/economies by GDP (Nominal). Since the reform and opening-up drive four decades ago, Zhejiang has embarked on a fast track of economic growth. Net exports fell over the year due to the higher import prices from commodities, offsetting the strengths in gross capital formation and government spending. Figures for Hong Kong and Macau, which are special administrative regions of the People's Republic of China. Gross domestic product (GDP) denotes the aggregate value of all services and goods produced . Answer (1 of 20): I will compare Taiwan to South Korea, since they are more similar. The economy of Guangdong is equivalent to Australia. Despite the efforts of the greatest correspondence with the reality, there is no guarantee, that all the data is true. These figures are shown in USD based on PPP, as estimated by the International Monetary Fund. . . The entire land coverage of the land is approximately 36,000, making it an incredibly small nation with a relatively large population. It is also stepping up its overseas investment, as it endeavors to seek further involvement in the construction of the Belt and Road Initiative (BRI). 10 Oct. Elon Musk wades into China and Taiwan tensions. Since China claims Taiwan as its province, the international community does not want to contradict China on this matter. 25 However, as of 2021, China's GDP per capita growth rate was 8%, while . The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller. Jun 9, 2022. As we can guess, Taiwan is a country located in East Asia, which land consists mostly of the main island of Taiwan. All rights reserved. Groceries Prices in Taiwan are 56.54% higher than in China. An estimate of its nominal GDP per capita for 2016 is $21,571. 2000 - 2021. Taiwan's economic growth outpaced that of China's for the first time in 30 years, helped by its early control of the virus and stellar export performance. cade, the 10 eastern provinces make up more than half of China's GDP despite being home to just over a third of its population (see Tables 2 and 3). Private consumption (7.49 percent vs. 2.89 percent in Q2) was a key driver for growth, while government spending (2.35 percent vs. 5.85 percent) and . Penn World Table. Per capita GDP of 17 provinces exceeded US$10,000. Meanwhile, the population of Taiwan is ~23.6 million people (1.4 billion more people live in China). Shanghai expects GDP growth of more than 6 percent this year and will keep its urban unemployment rate at no more than 5 percent. The farmers caught up in Taiwan's tensions with . Gross Domestic Product. The capital of China is Beijing. 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