ABSTRACT
Population Population (2008) 23.04 mn Urban population (2007) 55% Population under 15 (2008) 16.95% Population 65 and over (2008) 10.42% Average annual growth rate (2005 to 2008) 3.81% Geography Land area 36,189 km2 Agricultural area 23% Capital city Taipei Population of capital city 2.62 mn Economy Monetary unit New Taiwan Dollar (NT$) Exchange rate (average fourth quarter 2008) to: the pound sterling NT$ 50.06 the US dollar NT$ 33.05 the euro NT$ 42.97 the yen x 100 NT$ 35.56 Average annual inflation (2005 to 2008) 2.06% Inflation rate (2008) 3.53% Gross Domestic Product (GDP) NT$ 12,365 bn GDP per capita NT$ 536,675 Average annual real change in (GDP) (2005 to 2008) 3.7% Private consumption as a proportion of GDP (2008) 54.4% Public consumption as a proportion of GDP (2008) 11.2% Investment as a proportion of GDP 16.6% Construction Gross value of construction output NT$ 286.7 bn Net value of construction output (2007) NT$ 269.8 bn Net value of construction output as a proportion of GDP (2007) 2.18%
THE CONSTRUCTION INDUSTRY
Construction Output
The gross output of construction in 2008 was NT$286.7 billion, equivalent to US$8.7 billion, or 2.3% of GDP. The net output of construction in 2007 was approximately NT$269.8 billion, equivalent to US$8.2 billion, or 2.2% of GDP. The output of construction for the years 2005-2008 is illustrated in the table below.
