SMEs Serve as the Backbone of Taiwan's Stable Economic Development

As of 2021, Taiwan boasted more than 1.59 million small and medium enterprises (SMEs), according to the White Paper on Small and Medium Enterprises in Taiwan, 2022. This accounts for more than 98 percent of all enterprises, an all-time high. Further, SMEs employed 9.2 million people, representing more than 80 percent of the total workforce. In the same period, Taiwanese SMEs exceeded NT$26 trillion in total revenue , of which nearly 90 percent was generated in the domestic market, accounting for more than half of the revenue generated by all domestic enterprises.

Moreover, the increase in Taiwan's international trade and domestic investments in 2021, resulted in a spectacular increase in domestic revenue and exports, with exports achieving an annual growth rate of 25 percent. Such a performance is a testament to the major role SMEs play in the post-pandemic revitalization of Taiwan's economy and job market, as well as to SMEs' crucial position as the backbone of stable economic development.

For more SME-related strategies and policies, kindly refer to the latest version of the White Paper on Small and Medium Enterprises in Taiwan, 2022, available at: https://www.moeasmea.gov.tw/list-en-2572