Taiwan
East Asia · Taipei · TWD (New Taiwan Dollar)
Economy & industry overview
Taiwan is a high-income, export-oriented economy and a global leader in semiconductor manufacturing, with the technology sector—particularly integrated circuits, electronics, and ICT products—forming the backbone of its industrial base. The Taiwan Semiconductor Manufacturing Company (TSMC) alone represents the majority of the exchange's market capitalisation and is among the world's ten largest public companies by value. Taiwan's total trade reached US$869.4 billion in 2024, with semiconductors, flat panel displays, and petrochemicals among its top exports to partners including the United States, China/Hong Kong, and ASEAN nations. The economy recorded real GDP growth of approximately 5.3% in 2024 and an estimated 8.68% in 2025, driven strongly by AI-related demand for advanced chips and high-performance computing infrastructure. Financial services, petrochemicals, precision machinery, and biotechnology round out Taiwan's diversified industrial profile.
Key sectors
📘 Learn everything about Taiwan →Macro
| GDP nominal, USD | $884.39B |
| GDP growth real, annual | 8.7% |
| Inflation annual | 1.7% |
| Population people | 23.2M |
| GDP per capita USD | $42,103 |
| Market cap total listed, USD | $2.90T |
| Market cap / GDP | 328.0% |
| Unemployment | 3.4% |
| Listed companies | 1,018 |
| Exchange | Taiwan Stock Exchange Corporation (TWSE) |
Data year: 2025. Sources: IMF World Economic Outlook (April 2026), Taiwan Government Portal (taiwan.gov.tw), Taiwan Stock Exchange Corporation Fact Book 2025 (twse.com.tw), Wikipedia – Economy of Taiwan, Worldometers – Taiwan GDP, CEIC Data – Taiwan GDP, FocusEconomics – Taiwan, Statista – Taiwan Inflation and Unemployment, Trading Economics – Taiwan, Hudson Institute – Taiwan Stock Exchange Analysis (June 2026), Grokipedia – Largest Companies in Taiwan.
Latest news
Other East Asia markets
Largest listed companies
The biggest companies on the main local exchange, by market capitalisation.
| # | Company | Sector | Market capUSD | US listing |
|---|---|---|---|---|
| 1 | Taiwan Semiconductor Manufacturing Company (TSMC)2330 · TWSE | Semiconductors | $1.57T | TSM |
| 2 | Delta Electronics, Inc.2308 · TWSE | Electronic Components / Power Systems | $82.50B | — |
| 3 | Hon Hai Precision Industry Co., Ltd. (Foxconn)2317 · TWSE | Electronic Manufacturing Services | $103.41B | HNHPF |
| 4 | MediaTek Inc.2454 · TWSE | Semiconductors (Fabless) | $74.90B | MDTKF |
| 5 | Fubon Financial Holding Co., Ltd.2881 · TWSE | Financial Services (Insurance / Banking) | $42.75B | — |
| 6 | Cathay Financial Holding Co., Ltd.2882 · TWSE | Financial Services (Insurance / Banking) | $36.00B | — |
| 7 | Chunghwa Telecom Co., Ltd.2412 · TWSE | Telecommunications | $28.00B | CHT |
| 8 | ASE Technology Holding Co., Ltd.3711 · TWSE | Semiconductor Packaging & Testing | $25.00B | ASX |
| 9 | United Microelectronics Corporation (UMC)2303 · TWSE | Semiconductors (Foundry) | $21.00B | UMC |
| 10 | Quanta Computer Inc.2382 · TWSE | Computer Hardware / Servers | $20.00B | — |
| 11 | Largan Precision Co., Ltd.3008 · TWSE | Optical Components | $15.00B | — |
| 12 | Pegatron Corporation4938 · TWSE | Electronic Manufacturing Services | $11.00B | — |
| 13 | Wistron Corporation3231 · TWSE | Electronic Manufacturing Services | $9.50B | — |
| 14 | Formosa Plastics Corporation1301 · TWSE | Petrochemicals / Plastics | $15.50B | — |
| 15 | Nan Ya Plastics Corporation1303 · TWSE | Petrochemicals / Plastics | $14.50B | — |
| 16 | Formosa Chemicals & Fibre Corporation1326 · TWSE | Petrochemicals | $12.00B | — |
| 17 | Formosa Petrochemical Corporation6505 · TWSE | Energy / Refining | $11.50B | — |
| 18 | Taiwan Mobile Co., Ltd.3045 · TWSE | Telecommunications | $9.20B | — |
| 19 | Far EasTone Telecommunications Co., Ltd.4904 · TWSE | Telecommunications | $8.80B | — |
| 20 | Yageo Corporation2327 · TWSE | Electronic Components (Passive) | $13.00B | — |
| 21 | Acer Inc.2353 · TWSE | Technology / Consumer Electronics | $4.50B | ACEYY |
| 22 | ASUSTeK Computer Inc.2357 · TWSE | Technology / Consumer Electronics | $8.20B | — |
| 23 | Catcher Technology Co., Ltd.2474 · TWSE | Precision Metal Components | $5.50B | — |
| 24 | Micro-Star International (MSI)2377 · TWSE | Technology / Computer Hardware | $5.00B | — |
| 25 | Novatek Microelectronics Corp.3034 · TWSE | Semiconductors (Fabless – Display Drivers) | $12.00B | — |
| 26 | Realtek Semiconductor Corp.2379 · TWSE | Semiconductors (Fabless – Networking/Audio) | $8.50B | — |
| 27 | Chroma ATE Inc.2360 · TWSE | Test & Measurement Equipment | $7.00B | — |
| 28 | Accton Technology Corporation2345 · TWSE | Networking Equipment | $10.00B | — |
| 29 | Elite Material Co., Ltd. (EMC)2383 · TWSE | Electronic Materials (PCB Substrates) | $9.50B | — |
| 30 | Taiwan Cement Corporation1101 · TWSE | Building Materials / Energy Storage | $5.20B | — |
US-traded ETFs
Funds listed in the US that give exposure to this market — the simplest route for many US investors.
| Ticker | ETF | Issuer | Scope | Expense ratioannual % | Exposure% of fund |
|---|---|---|---|---|---|
| QTWN | Invesco MSCI Taiwan ETF | Invesco | Single-country | 0.49% | 100% |
| EWT | iShares MSCI Taiwan ETF | BlackRock (iShares) | Single-country | 0.57% | 100% |
| EWTE | iShares MSCI Taiwan Small-Cap ETF | BlackRock (iShares) | Single-country | 0.59% | 100% |
| VWO | Vanguard FTSE Emerging Markets ETF | Vanguard | Broad EM | 0.08% | 20% |
| IEMG | iShares Core MSCI Emerging Markets ETF | BlackRock (iShares) | Broad EM | 0.09% | 19% |
| SCHE | Schwab Emerging Markets Equity ETF | Charles Schwab | Broad EM | 0.11% | 18% |
| AAXJ | iShares MSCI All Country Asia ex Japan ETF | BlackRock (iShares) | Regional | 0.69% | 17% |
| EEM | iShares MSCI Emerging Markets ETF | BlackRock (iShares) | Broad EM | 0.70% | 19% |
| FXI | iShares China Large-Cap ETF | BlackRock (iShares) | Regional Reference only | 0.74% | 0% |
Local exchange & access
| Exchange | Taiwan Stock Exchange Corporation |
| Code | TWSE |
| Website | www.twse.com.tw |
| Currency | TWD |
Local broker access
Foreign investors may access TWSE-listed securities through local licensed brokers (e.g., Fubon Securities, Cathay Securities, KGI Securities) or international brokers offering Taiwanese market access. Direct market participation by foreign institutional investors requires registration with the Taiwan Stock Exchange. US investors often gain exposure via ADRs (TSMC trades as TSM on NYSE) or Taiwan-focused ETFs such as EWT. The over-the-counter Taipei Exchange (TPEx) lists additional smaller-cap and emerging companies. Settlement follows a T+2 cycle; all trading is denominated in New Taiwan Dollars.
Global brokers with foreign-market access
- Interactive Brokers — Direct access to 90+ markets worldwide, including many emerging exchanges.
- Saxo Bank — Multi-market access across Asia, Europe and the Middle East.
- Charles Schwab (Global) — Foreign ordinary shares on select markets; US-listed ADRs and ETFs.
- Fidelity International Trading — International stock trading on a number of developed and emerging markets.
Listed for convenience only — not a recommendation. Available markets, fees and onboarding rules differ by broker and by your country of residence.
Relocation & residency
Investment visa / residency programme
Grants Temporary residency / Employment Gold Card (renewable); pathway to permanent residency
Taiwan does not operate a formal residency-by-investment or citizenship-by-investment programme in the conventional sense. However, foreign nationals who establish or invest in a qualifying business in Taiwan may apply for an Employment Gold Card (a four-in-one combined work permit, residence permit, alien resident certificate, and re-entry permit valid for 1–3 years), or for permanent residency after meeting qualifying investment and residency thresholds under the Act for the Recruitment and Employment of Foreign Professionals. The Investment Commission under the Ministry of Economic Affairs administers related investment immigration pathways.
Minimum investment: $200.00K
Need help applying? Specialist investment-migration advisers such as Henley & Partners.
Foreign-investor access
Foreign nationals investing NTD 6 million (approx. USD 190,000–200,000) in a Taiwanese enterprise or qualifying financial instrument may be eligible to apply for investor residency. The Employment Gold Card targets high-skilled professionals in technology, finance, culture, and other designated fields, and is issued for 1–3 years with renewal options. Permanent residency requires five consecutive years of legal residence and meeting income or asset thresholds. Taiwan does not grant citizenship solely on the basis of investment.
US-listed ADRs & cross-listings
Companies from this country whose shares also trade in the US — investable in a normal US brokerage account.
| Company | US ticker | Local ticker | Note |
|---|---|---|---|
| ASE Technology Holding Co., Ltd. | ASX | 3711 | Listed on NYSE; the world's largest semiconductor assembly and test services company. Each ADR represents one ordinary share. |
| Acer Inc. | ACEYY | 2353 | Trades OTC in the US as a pink-sheet ADR; Acer is a globally recognised PC and consumer electronics brand headquartered in New Taipei City. |
| Chunghwa Telecom Co., Ltd. | CHT | 2412 | Listed on NYSE; Taiwan's largest telecom operator, majority government-owned. Trades as an ADR with each unit representing 10 ordinary shares. |
| Hon Hai Precision Industry (Foxconn) | HNHPF | 2317 | Trades OTC in the US; the world's largest electronics contract manufacturer. Not listed on a major US exchange but accessible via OTC markets. |
| Taiwan Semiconductor Manufacturing Company | TSM | 2330 | Listed on NYSE; one of the highest-market-cap ADRs globally. Each ADR represents 5 ordinary TWSE shares. Widely held by institutional and retail investors as a proxy for semiconductor and AI infrastructure exposure. |
| United Microelectronics Corporation | UMC | 2303 | Listed on NYSE; Taiwan's second-largest contract semiconductor foundry. Each ADR represents two ordinary TWSE shares. |