Taiwan's robust IT industry, increasing openness to foreign
investment and foreign-owned companies, and incremental progress in
its digitalisation efforts are increasing its desirability as a
market for investors and business leaders in Asia Pacific. As such,
Taiwan moved down to 32nd place in our
2021 Global Business Complexity Index, from 16th position the
previous year.
As a key hub in the global technology supply chain, Taiwan's
economy is largely export-oriented, with the main industries being
semiconductors and high-tech. The jurisdiction also
manufactures computers and electronic components, such as wireless
communication equipment and LCDs for use in its own products, as
well as for export. Other top exports include machinery, plastic
products and auto parts.
