Impact of Russia Ukraine War on Taiwanese Economy

Abstract

The economy of Taiwan is characterized by a strong industrial base and high-tech manufacturing capabilities. It heavily relies on international trade, with the United States, China, Japan, and the European Union being major trading partners. While the trade volumes with Russia and Ukraine in 2021 were relatively smaller, there were ongoing economic interactions and potential for further growth. Geopolitical considerations, particularly related to China's influence, can impact Taiwan's trade relationships with various countries. The Russia-Ukraine war has had a major impact on the Taiwanese economy. The war has disrupted trade, tourism, energy prices, and supply chains, all of which have had a negative impact on the country's economic growth. The future outlook for the Taiwanese economy is uncertain, but the government is taking steps to mitigate the impact of the war.