Taiwan’s average wealth per household based on purchasing power parity (PPP) was US$798,000 as of the end of 2020, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said on Monday.
The figure puts Taiwan in third place among Organisation for Economic Co-operation and Development (OECD) countries.
Average wealth per household in Taiwan was NT$12.36 million (US$385,503 at the current exchange rate) in 2020, up 5.1 percent from a year earlier, the DGBAS said, attributing the rise mainly to an increase in financial assets.
The figure rose to US$798,000 when adjusted for PPP, the agency said.
Taiwan’s PPP-based average wealth per household was US$760,00 in 2019, also ranking the nation third among the 38 OECD members and three partner countries, trailing only Luxembourg’s US$941,000 and Switzerland’s US$862,000.
It was also much higher than the OECD’s median figure of US$255,000 for that year, the DGBAS said.
The figure was also higher than South Korea’s US$362,000 and Japan’s US$295,000, it said.
According to the OECD, PPP reflects the absolute purchasing power of each country’s currency, and, to some extent, its people’s living standards. It provides a clearer view of the purchasing power of people in each country.
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