Taiwan tops South Korea in 2022 GDP per capita 1st time in nearly 2 decades

[Mista]

It's really weird that they have such a high GDP per capita, and yet their new university grad is basically paid around 30000 to 35000 TWD (~1k USD) a month. That rate hasn't really moved in close to 2 decades.

A university graduate means nothing in Taiwan. Their barrier of entry is extremely low, and their university acceptance rate is around 90%.

台灣大專畢業率全球第一 收入卻僅德國一半 - 生活

教育部統計，我國25到34歲的人口接受高等教育比率高達7成，比經濟合作發展組織（OECD）35國都還要高，居全球第一，不過歐盟第一強國德國，雖然高等教育比率不到台灣的一半，但國民所得卻是台灣的兩倍之多，讓專家指

www.chinatimes.com

That is why the average fresh grad salary is not much higher than their minimum wage.

The median annual income in Taiwan is around $16.5K, and the average annual income is around $22K. This level seems reasonable for an economy of about $30K GDP per capita. Labor share of GDP (total compensation) in most developed economies is around 50-60%.

Taiwan’s median income in 2021 grew 1% to NT$506,000 as income inequality widens - Formosa News

Taiwan’s median annual income in 2021 grew to NT$506,000, up 1% from the year before. Workers in Hsinchu City were once again the biggest earners in the nation, with a median income of NT$770,000. But experts say that does not paint a full picture of Taiwan’s economy, as about 68% of workers...

english.ftvnews.com.tw

Labour share of GDP, comprising wages and social protection transfers - Sustainable Development Goals - United Nations Economic Commission for Europe

w3.unece.org

 

[大汉奸柳传志]

Taiwan always had higher GDP PPP per capita. It's just that they had an undervalued currency and thus lower nominal GDP per capita.

wtf is that logic... do you think the Indian rupee is also undervalued??

 

[Mista]

wtf is that logic... do you think the Indian rupee is also undervalued??

No.

Oil exporters returned to currency manipulation in 2021

Currency manipulation—official purchases of excessive amounts of foreign currencies to support large trade surpluses—increased modestly in 2021 as several oil exporters returned to manipulation with the sharp rise in oil prices. These exporters included Kuwait, Norway, and the United Arab...

www.piie.com

https://www.imf.org/external/datamapper/BCA_NGDPD@WEO/OEMDC/ADVEC/WEOWORLD