The average disposable income per household last year reached NT$1.165 million (US$38,820), setting a new record high and increasing 2.5 percent year-on-year, the Directorate-General of Budget, Accounting and Statistics’ (DGBAS) latest “Family Income and Expenditure” report showed on Friday.
The median disposable income per household last year was NT$985,000, also an increase of 2.5 percent from the previous year, the report said.
After excluding household size factors, the average disposable income per person last year was NT$419,000, an increase of 2.9 percent compared with the previous year, while the median figure was NT$356,000, up 1.8 percent, it said.
Photo: CNA
The DGBAS attributed the increases to Taiwan’s economy growing steadily, driving up people’s disposable income.
Last year, the nation’s GDP grew 4.84 percent, while the unemployment rate dropped to 3.38 percent, the agency said.
With increases to the minimum wage, the overall income level in Taiwan thus increased, it added.
Notably, the average annual income of all age groups also reached record levels last year, with that of people younger than 30 climbing to NT$559,000, up 2.5 percent from the previous year and setting a new record, the DGBAS said.
The average annual income for those aged 30 to 34 was NT$727,000 and for those aged 35 to 39 NT$818,000, the agency said.
The average income was NT$903,000 for those aged 40 to 44, NT$944,000 for those aged 45 to 54, NT$832,000 for the 55-to-64 age group, and NT$492,000 for people aged 65 and older, it said.
The DGBAS projected Taiwan’s GDP to grow 4.45 percent this year, an upward revision of 1.35 percentage points from its previous forecast in May, with GDP per capita at US$38,066.
GDP growth next year is expected to reach 2.81 percent, with GDP per capita surpassing US$40,000 for the first time at US$41,019, it said.
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