Despite being relatively small, just half the size of Ireland, Taiwan has an outsized economic influence. Last year it set a new record for exporting US$335.9 billion worth of goods, which represents a 1.7% share of the world's total, making it the 18th biggest exporter internationally.

Known as the “Bicycle Kingdom”, Taiwan produces 50% of the world's medium and high-end bicycles. Taiwan-based Giant Manufacturing is the world's biggest bike company, with annual sales of about 6.6 million bicycles and revenue of nearly US$2 billion in 2018.

Taiwan's textile industry has evolved into a major producer of hi-tech and environmentally-friendly fabrics. Of the 32 teams that competed in the 2018 FIFA World Cup World Cup, 16 of the 32 teams wore shirts made in Taiwan, each made from recycled plastic bottle fibres.

Taiwan took a 16% share of the world's integrated circuit market in 2018, which was second only to the industry-dominating United States, which held a 52% share. The island is home to Taiwan Semiconductor Manufacturing (TSMC), which is the biggest contract chipmaker in the world.

Foxconn, also known as Hon Hai Precision Industry, is the largest electronics manufacturer in the world and is reported to employ 803,126 people. This makes it the fifth biggest private or semi-private employer, beating Amazon. Some of its big-name clients include Apple, Sony and Xiaomi.

Both Taiwan and Japan listed 13 companies each and came joint-second place, after the United States, for having the world's most financially successful and best-run tech companies. The criteria for selection included innovation, reputation and environmental impact.

Ultra-high-net-worth individuals have assets of at least US$30 million and 1,519 residents of Taiwan's capital are in this exclusive club. This means Taipei is ranked eighth among cities for the super-rich according to Knight Frank's 2019 Wealth Report.

According to the Global Competitiveness Report 2018 from the World Economic Forum, Taiwan has a score of 79.3 and is rated 13th. The assessment considers factors such as security, social capital, public sector performance, transparency and other variables to arrive at its conclusion.