High Quality Content by WIKIPEDIA articles! Taiwan has a developed capitalist economy that ranks as the 19th largest in the world by Purchasing power parity (PPP), ranks as 18th in the world by gross domestic product (GDP) at purchasing power parity per capita (person) and 24th in nominal GDP of investment and foreign trade by the Republic of China (ROC) government, which commonly referred to as Taiwan. In keeping with this trend, most large government-owned banks and industrial firms have been privatized. With the Technocracy-centered economic planning under Martial Law until 1987, real growth in GDP has averaged about 8% during the past three decades. Exports have grown even faster and since World War II, have provided the primary impetus for industrialization. Inflation and unemployment are low; the trade surplus is substantial; and foreign reserves are the world's fourth largest. Agriculture contributes 3% to GDP, down from 35% in 1952, and the service sector makes up 73% of the...

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