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.
The DBS Foundation yesterday announced the launch of two flagship programs, “Silver Motion” and “Happier Caregiver, Healthier Seniors,” in partnership with CCILU Ltd, Hondao Senior Citizens’ Welfare Foundation and the Garden of Hope Foundation to help Taiwan face the challenges of a rapidly aging population. The foundation said it would invest S$4.91 million (US$3.8 million) over three years to foster inclusion and resilience in an aging society. “Aging may bring challenges, but it also brings opportunities. With many Asian markets rapidly becoming super-aged, the DBS Foundation is working with a regional ecosystem of like-minded partners across the private, public and people sectors
BREAKTHROUGH TECH: Powertech expects its fan-out PLP system to become mainstream, saying it can offer three-times greater production throughput Chip packaging service provider Powertech Technology Inc (力成科技) plans to more than double its capital expenditures next year to more than NT$40 billion (US$1.31 billion) as demand for its new panel-level packaging (PLP) technology, primarily used in chips for artificial intelligence (AI) applications, has greatly exceeded what it can supply. A significant portion of the budget, about US$1 billion, would be earmarked for fan-out PLP technology, Powertech told investors yesterday. Its heavy investment in fan-out PLP technology over the past 10 years is expected to bear fruit in 2027 after the technology enters volume production, it said, adding that the tech would
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has secured three construction permits for its plan to build a state-of-the-art A14 wafer fab in Taichung, and is likely to start construction soon, the Central Taiwan Science Park Bureau said yesterday. Speaking with CNA, Wang Chun-chieh (王俊傑), deputy director general of the science park bureau, said the world’s largest contract chipmaker has received three construction permits — one to build a fab to roll out sophisticated chips, another to build a central utility plant to provide water and electricity for the facility and the other to build three office buildings. With the three permits, TSMC
YEAR-END BOOST: The holiday shopping season in the US and Europe, combined with rising demand for AI applications, is expected to drive exports to a new high, the NDC said Taiwan’s business climate monitor improved last month, transitioning from steady growth for the first time in five months, as robust global demand for artificial intelligence (AI) products and new iPhone shipments boosted exports and corporate sales, the National Development Council (NDC) said yesterday. The council uses a five-color system to measure the nation’s economic state, with “green” indicating steady growth, “red” suggesting a boom and “blue” reflecting a recession. “Yellow-red” and “yellow-blue” suggest a transition to a stronger or weaker condition. The total score of the monitor’s composite index rose to 35 points from a revised 31 in August, ending a four-month
RSS