Feature · Industries and listed companies

Taiwan’s Industries

From sugar to wafers: what this country earns its living from, who is worried, and what is already on the calendar

In 1952, nine-tenths of exports came from the fields. In 2025, three of every four export dollars were electronics. The seventy years in between are laid out on this page.

74.0%

Electronic components plus ICT and audio-video products as a share of 2025 exports

38.6%

Manufacturing as a share of GDP, 2025

NT$5.80T

Revenue of the three science parks, 2025

38.3%

TSMC’s share of total listed market cap (close of 2026-10-22)

Sources for the four figures: Ministry of Finance export structure（2026-11-10）・ DGBAS national accounts（2026-11-10）・ NSTC science-park statistics（2026-11-10）・ TWSE and TPEx closing data（2026-10-22）

Organised public data, not investment advice. The market capitalisation, revenue and industry classifications cited in this feature come from public filings and are used only to describe industrial structure. Taiwan.md does not rate individual stocks, forecast prices or recommend any trade.

This page has not been translated into this language yet, so it is shown in English.

First, what grew in the fields. Then, what factories made. Only then, what comes out of a cleanroom.

In under forty years, exports went from nine-tenths farm goods to 95% industrial goods

In 1952, agricultural and processed agricultural products were 91.9% of exports. By 1970 industrial products were already 78.6%; by 1990, 95.5%. Every later section stands on this curve.

Export structure 1952–1990: farm and processed farm goods fell from 92% to 4.5%

Share of total exports. One point each for 1952, 1955, 1960, 1965 and 1970; annual from 1973.

Agricultural products 0.7%
Processed agricultural products 3.8%
Industrial products 95.5%

Source: Council for Economic Planning and Development, R.O.C.（國發會前身經建會）；PDF 取自 taiwan-database.net 鏡像 — Taiwan Statistical Data Book 2002, Table 11-7 Composition of Exports（p.216）

Data table

Category	1952	1955	1960	1965	1970	1973	1974	1975	1976	1977	1978	1979	1980	1981	1982	1983	1984	1985	1986	1987	1988	1989	1990
Agricultural products	22.1%	28.1%	12.0%	23.6%	8.6%	7.5%	4.8%	5.6%	5.0%	5.4%	5.0%	4.4%	3.6%	2.6%	2.0%	1.9%	1.7%	1.6%	1.6%	1.3%	1.4%	0.7%	0.7%
Processed agricultural products	69.8%	61.5%	55.7%	30.4%	12.8%	7.9%	10.7%	10.8%	7.4%	7.1%	5.8%	5.1%	5.6%	4.6%	5.1%	4.8%	4.3%	4.5%	4.9%	4.8%	4.1%	3.9%	3.8%
Industrial products	8.1%	10.4%	32.3%	46.0%	78.6%	84.6%	84.5%	83.6%	87.6%	87.5%	89.2%	90.5%	90.8%	92.8%	92.9%	93.3%	94.0%	93.9%	93.5%	93.9%	94.5%	95.4%	95.5%
Total	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%

Cited from a copy of the CEPD’s Taiwan Statistical Data Book 2002 hosted on taiwan-database.net, not the official address; the original file on the National Development Council’s site could not be obtained.

The turn is concentrated in the 1960s. Industrial products were 32.3% of exports in 1960, 46.0% in 1965 and 78.6% in 1970. The institutions that arrived in that decade are on the timeline below.

The chart stops at 1990 because the two data sets do not join: before 1990 it is the three-way split in the CEPD’s Taiwan Statistical Data Book, and from 2001 the Ministry of Finance classifies by commodity. We do not draw a line across the gap; the structure after 2001 is in section 3.

Taiwan industry timeline 1953–2026

From the economic plans of 1953 to the 2026 Taiwan–US trade agreement: 37 events on four tracks — policy, companies, capital market, international — each with an official source.

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Farming funds industry, then exports 1953–1969

1953

Policy and institutions The government begins drawing up medium-term economic plans ↗

According to the Executive Yuan, medium-term national development plans have been drawn up since 1953, sixteen of them by 2016.
1960-09-10

Policy and institutions Statute for the Encouragement of Investment promulgated ↗

A statute rewarding investment with tax relief; it remained in force until 31 December 1990.
1962-02-09

Capital market The Taiwan Stock Exchange opens ↗

Founded on 23 October 1961, it opened for business on 9 February the following year. Read the article →
1966-12-03

Policy and institutions Kaohsiung Export Processing Zone established ↗

Taiwan’s first export processing zone. It was renamed a Technology Industrial Park in March 2021. Read the article →

Heavy industry, the Ten Projects and the start of electronics 1970–1989

1973-07-05

Policy and institutions Industrial Technology Research Institute (ITRI) founded ↗

The legislature passed its founding statute in January of the same year. ITRI later carried out the integrated-circuit technology transfer.
1974

Policy and institutions The Ten Major Construction Projects begin ↗

Originally nine projects; a nuclear power plant made it ten. Completion dates differ, the North-Link railway was finished in February 1980. Read the article →
1976-03-05

Companies and technology ITRI signs an integrated-circuit technology-transfer agreement with RCA ↗

The date comes from the official chronology of Dr Pan Wen-yuan’s life. Read the article →
1979-07-27

Policy and institutions Act for the Establishment and Administration of Science Industrial Parks promulgated ↗

The legal basis for science parks. It was renamed in 2018.
1980-05-22

Companies and technology United Microelectronics Corporation (UMC) founded ↗

The date is the incorporation date in the TWSE company profile. It listed on 16 July 1985. Read the article →
1980-12-15

Policy and institutions Hsinchu Science Industrial Park established ↗

The first science park. Read the article →
1986

Capital market The trade surplus widens and the New Taiwan dollar appreciates ↗

The merchandise trade surplus was US$8.59 billion in 1984 and US$15.74 billion in 1986. The year-end exchange rate went from NT$39.85 to the US dollar in 1985 to NT$28.55 in 1987 (CEPD statistics). Read the article →
1987-02-21

Companies and technology Taiwan Semiconductor Manufacturing Company (TSMC) incorporated ↗

It listed on 5 September 1994. Read the article →

Science parks expand; global division of labour 1990–2009

1990-12-29

Policy and institutions Statute for Upgrading Industries promulgated ↗

In force from 1 January 1991. Its tax-relief chapter ran until the end of 2009. Read the article →
1994-11-01

Capital market The Taipei Exchange (TPEx) established ↗

It took over the over-the-counter market, today’s TPEx mainboard and Emerging Stock Board.
1995-05

Policy and institutions Plan for the Southern Taiwan Science Park approved ↗

The Executive Yuan had resolved to set it up in February of that year.
2002-01-01

International Taiwan becomes the 144th member of the World Trade Organization ↗

The accession protocol was signed on 12 November 2001. Read the article →
2002-09-23

Policy and institutions Plan for the Central Taiwan Science Park approved ↗

It opened to tenants on 28 July 2003.

The innovation statute; semiconductors become the trunk 2010–2021

2010-05-12

Policy and institutions Statute for Industrial Innovation promulgated ↗

The Statute for Upgrading Industries was repealed the same day. Today’s R&D tax credits sit in this law.
2010-06-29

International Cross-Strait Economic Cooperation Framework Agreement (ECFA) signed ↗

Signed by the Straits Exchange Foundation and its counterpart; it took effect on 12 September that year.
2016

Policy and institutions The “5+2” industrial innovation programme ↗

The premier said in November 2016 that his team had pursued it since taking office in May; it covered smart machinery, green energy, the “Asia Silicon Valley”, biomedicine, defence and new agriculture.
2019-01-01

Policy and institutions Action plan welcoming overseas Taiwanese businesses back to invest begins ↗

As of 5 November 2026, 372 companies had been approved, with estimated investment of about NT$1.70 trillion, the approved amount, not money actually spent.
2020-05-15

Companies and technology TSMC announces a fab in Arizona ↗

Total spending from 2021 to 2029 was put at about US$12 billion at the time. Read the article →
2020-12-10

Policy and institutions Programme for the Six Core Strategic Industries ↗

The National Development Council presented the overall plan to the Executive Yuan Council.
2021-11-09

Companies and technology TSMC’s board approves a subsidiary in Japan ↗

The Kumamoto fab held its opening ceremony on 24 February 2024.

AI servers, tariffs and fabs abroad 2022–2026

2022-08-09

International The US CHIPS and Science Act ↗

Public Law 117-167.
2023-01-19

Policy and institutions Article 10-2 added to the Statute for Industrial Innovation ↗

25% of spending on forward-looking innovative R&D can be credited against corporate income tax, through the end of 2029.
2024-03-21

Capital market The TAIEX closes above 20,000 for the first time ↗

Determined by checking the exchange’s historical index data day by day.
2024-04-08

Companies and technology TSMC’s Arizona plan rises above US$65 billion ↗

A third fab was announced.
2025-03-04

Companies and technology TSMC says its total US investment is expected to reach US$165 billion ↗

A further US$100 billion on top of the existing plan.
2025-04-01

International The United States opens a Section 232 investigation into semiconductors ↗

Phase one was proclaimed on 14 January 2026: 25% on certain advanced computing chips. As of November 2026 no official announcement of a broader second phase could be found.
2025-04-02

International The United States announces reciprocal tariffs; Taiwan’s rate is 32% ↗

According to the Executive Yuan’s Office of Trade Negotiations, it was cut to 20% in August that year.
2025-05-19

Companies and technology NVIDIA unveils “Constellation”, its new Taiwan office, at Computex ↗
2026-01-05

Capital market The TAIEX closes above 30,000 for the first time ↗

Determined by checking the exchange’s historical index data day by day.
2026-02-11

Companies and technology Taipei City and NVIDIA sign the land-rights contract at the Beitou-Shilin Technology Park ↗

City release: royalties of NT$12.2 billion; NVIDIA’s investment and operating plan totals more than NT$40 billion.
2026-02-12

International Taiwan and the United States sign an Agreement on Reciprocal Trade ↗

According to the Executive Yuan: a reciprocal tariff of 15% without stacking, and 2,072 export items exempted. Signing is not entry into force; as of November 2026 no notice of entry into force could be found.
2026-02-20

International The US Supreme Court rules the legal basis for the reciprocal tariffs invalid ↗

According to the Executive Yuan, Washington switched to a 150-day temporary tariff under Section 122 of the Trade Act; under the Section 301 rates announced on 24 July, Taiwan’s is 10% without stacking.
2026-05-04

Capital market The TAIEX closes above 40,000 for the first time ↗

Determined by checking the exchange’s historical index data day by day.

出典

Law database, agency and company announcements, accessed 2026-11-10

The state levelled the land, the state gave up the tax, and later the market learned to run on its own.

The state first supplied land, tax breaks and technology; the capital market then scaled it up

The way Taiwan raised its industries can be split into four tools. They came on stage in different decades, and all four are still at work.

Tool one

Industrial policy: pick the field, supply the technology

From the medium-term plans that began in 1953 to the “5+2” programme of 2016 and the Six Core Strategic Industries of 2020, the government has kept naming the industries it means to foster. It supplied technology too: ITRI was founded in 1973, integrated-circuit technology was brought in from RCA in 1976, and UMC was spun off from ITRI in 1980.

Source ↗

Tool two

Parks: land, utilities and a single window

Science parks are run by three bureaus under the National Science and Technology Council. Park enterprises import machinery, equipment and materials for their own use free of import duty, commodity tax and business tax; exports are zero-rated for business tax.

Source ↗

Tool three

Tax incentives: three statutes in relay for over sixty years

The Statute for the Encouragement of Investment (1960), the Statute for Upgrading Industries (in force 1991) and the Statute for Industrial Innovation (2010) followed one another. Most current R&D credits run to the end of 2029, including Article 10-2, added in 2023: 25% of forward-looking innovative R&D spending can be credited against corporate income tax.

Source ↗

Tool four

Capital market: four boards for companies of different sizes

A TWSE listing requires three years since incorporation and paid-in capital of NT$600 million. The TPEx mainboard requires two full fiscal years and NT$50 million. The Emerging Stock Board has no size or profit threshold. The Taiwan Innovation Board, opened in 2021, sets no profit threshold and looks at market value instead.

Source ↗

The three science parks made NT$5.80T in 2025; the Southern park has overtaken Hsinchu

Annual revenue of park enterprises. Official monthly data on one basis for all three parks start in 2017, so the chart does too.

Source: 國家科學及技術委員會統計資料庫（科學園區常用統計表） — Ｃ－４產業營業額統計表（按統計期間加總）

Data table

Year	Hsinchu	Central	Southern
2017	10,188.82	5,638.26	8,787.59
2018	10,755.14	7,248.82	7,956.42
2019	10,916.46	7,972.32	7,432.36
2020	12,439.15	9,359.79	8,477.31
2021	15,879.72	10,352.32	10,948.84
2022	16,132.55	11,698.11	14,833.74
2023	14,200.53	9,383.96	15,855
2024	15,146.35	10,342.55	22,125.99
2025	17,001.16	11,303.67	29,705.4

The three parks together made NT$2.46 trillion in 2017 and NT$5.80 trillion in 2025. The Southern Taiwan Science Park grew most, from NT$878.8 billion to NT$2.97 trillion, up 34% in 2025 alone. Hsinchu went from NT$1.02 trillion to NT$1.70 trillion over the same period.

Headcount did not rise in proportion. The parks employed 272,000 people at the end of 2017 and 340,000 at the end of 2025, a quarter more, while revenue became 2.4 times as large.

Textiles fell from a tenth to one percent. ICT products first lost half their share, then tripled it in three years.

In 2025, three of every four export dollars were electronics

In 2001, electronic components plus ICT and audio-video products were 41.4% of exports; in 2025 they were 74.0%. Total exports that year were US$640.0 billion.

Export shares 2001 → 2025: ICT and audio-video products went from 24.8% to 39.2%, overtaking electronic components

Ministry of Finance major-commodity classification, share of total exports. The current classification has been applied back to 2001, so both ends are on the same basis.

Source: 財政部統計處 — 財政部統計資料庫貨品別貿易值－按主要貨品別－出口（百萬美元）；貨品別貿易值結構比－按主要貨品別－出口

Data table

Category	2001	2025	Change (pp)
Electronic components	16.6%	34.7%	+18.1
ICT & audio-video	24.8%	39.2%	+14.5
Base metals	9.0%	4.4%	-4.6
Machinery	8.0%	4.0%	-4.0
Plastics & rubber	6.3%	2.8%	-3.5
Chemicals	3.4%	2.9%	-0.5
Mineral products	1.5%	2.2%	+0.6
Textiles	10.0%	1.0%	-9.0
Optical instruments	2.5%	1.9%	-0.6
Transport equipment	3.5%	1.6%	-1.9
Electrical machinery	5.1%	2.4%	-2.8

ICT and audio-video products traced a U: 24.8% in 2001, 11.3% in 2010, 13.5% in 2022, 27.9% in 2024 and 39.2% in 2025, passing electronic components (34.7%) for the first time. A table note in the Ministry of Finance’s December 2025 release says the sales flows of the two categories have “undergone structural change with the reorganisation of global supply chains and some manufacturers expanding production in Taiwan”. Over the same years textiles fell from 10.0% to 1.0% and machinery from 8.0% to 4.0%.

In 2025 the United States took 31.0% of exports, more than China and Hong Kong’s 26.6%

Share by destination, computed from Ministry of Finance export values by country. One point each for 2001, 2005, 2010 and 2015; annual from 2018.

Source: 財政部統計處 — 財政部統計資料庫洲別／國別貿易值（出口，按美元計算，千美元）

Data table

Year	China & Hong Kong	United States	ASEAN	Japan	Europe
2001	26.7%	22.2%	12.2%	10.3%	15.8%
2005	39.2%	14.6%	13.8%	7.6%	11.8%
2010	41.9%	11.4%	15.3%	6.7%	10.6%
2015	39.5%	12.1%	18.1%	6.9%	9.1%
2018	41.3%	11.8%	17.4%	6.8%	9.4%
2019	40.1%	14.1%	16.4%	7.1%	9.0%
2020	43.9%	14.7%	15.4%	6.8%	8.2%
2021	42.3%	14.7%	15.7%	6.5%	8.6%
2022	38.8%	15.7%	16.8%	7.0%	8.6%
2023	35.2%	17.6%	17.6%	7.3%	9.8%
2024	31.7%	23.4%	18.5%	5.4%	8.1%
2025	26.6%	31.0%	18.5%	4.7%	6.5%

China and Hong Kong took 43.9% in 2020 and 26.6% five years later. The United States rose from 14.7% to 31.0% and ASEAN from 15.4% to 18.5%; Japan and Europe both declined.

Industry as a share of GDP: 44.7% in 1985, 30.9% in 2000, back to 43.5% in 2025

Shares of nominal GDP (production side) by sector. For 1951–1980 the DGBAS publishes amounts only; shares are computed from them.

Agriculture 1.4%
Industry 43.5%
Services 55.1%

Source: 行政院主計總處 — 國民所得統計常用資料：國內各業生產毛額（名目）

Data table

Category	1951	1955	1960	1965	1970	1975	1980	1985	1990	1995	2000	2005	2010	2015	2020	2025
Agriculture	32.4%	29.4%	29.1%	24.7%	16.3%	13.1%	7.8%	5.7%	4.0%	3.3%	2.0%	1.6%	1.6%	1.8%	1.6%	1.4%
Industry	19.9%	21.7%	25.4%	29.2%	35.8%	38.8%	43.7%	44.7%	39.2%	33.6%	30.9%	31.8%	33.4%	36.3%	39.0%	43.5%
Services	47.7%	48.8%	45.5%	46.1%	48.0%	48.2%	48.5%	49.6%	56.8%	63.1%	67.0%	66.6%	65.0%	62.0%	59.4%	55.1%
Total	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%

Electronic-components manufacturing as a share of GDP: 4.5% in 2001, 17.2% in 2024

DGBAS value added by detailed industry, as a share of GDP. The 2025 detailed-industry figures have not been published.

Source: 行政院主計總處 — 國民所得統計：國內各業生產毛額（年資料，按行業細分）

Data table

Year	Electronic components	Computers, electronic & optical
2001	4.5%	2.3%
2005	7.8%	2.7%
2010	8.9%	3.5%
2015	11.5%	3.7%
2016	11.7%	3.6%
2017	12.5%	3.3%
2018	12.5%	3.0%
2019	12.1%	3.1%
2020	14.3%	3.7%
2021	16.6%	3.3%
2022	17.8%	3.7%
2023	15.8%	4.2%
2024	17.2%	5.0%

By DGBAS figures the economy grew 8.76% in 2025; the forecast released on 2026-08-14 put 2026 at 11.05%. ↗

“Electronics” is counted two ways in this section. Exports use the Ministry of Finance commodity classification (electronic components; ICT and audio-video products); GDP uses the DGBAS industry classification (electronic-components manufacturing; computers, electronic and optical products). The two cover different ground and cannot be converted into each other.

After a wafer leaves the fab it still has to be packaged, tested, powered and cooled before it becomes a rack of servers.

Taiwan’s IC industry produced NT$6.5 trillion in 2025; foundry was 64% of it

The Taiwan Semiconductor Industry Association divides the IC industry into design, manufacturing, packaging and testing. Together the four made NT$1.77 trillion in 2010 and NT$6.52 trillion in 2025. The figure counts only companies headquartered in Taiwan. TSIA press release, August 2026 ↗

Taiwan IC industry output: NT$6.52T in 2025, 3.7 times the level of fifteen years earlier

Companies headquartered in Taiwan. IC manufacturing is split into foundry and memory & other manufacturing.

IC design NT$1.42T · 21.8%
Foundry NT$4.17T · 63.9%
Memory & other mfg. NT$217.6B · 3.3%
Packaging NT$482.5B · 7.4%
Testing NT$228.6B · 3.5%

Source: 台灣半導體產業協會(TSIA)；數據：工研院產科國際所 — 台灣 IC 產業營運成果（各年新聞稿）

Data table

Category	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
IC design	4,548	3,856	4,115	4,811	5,763	5,927	6,531	6,171	6,413	6,928	8,529	12,147	12,320	10,965	12,721	14,245
Foundry	5,830	5,729	6,483	7,592	9,140	10,093	11,487	12,061	12,851	13,125	16,297	19,410	26,847	24,925	32,438	41,693
Memory & other mfg.	3,167	2,138	1,809	2,373	2,591	2,207	1,837	1,621	2,005	1,596	1,906	2,879	2,356	1,701	1,757	2,176
Packaging	2,870	2,696	2,720	2,844	3,160	3,099	3,238	3,330	3,445	3,463	3,775	4,354	4,660	3,931	4,233	4,825
Testing	1,278	1,208	1,215	1,266	1,379	1,314	1,400	1,440	1,485	1,544	1,715	2,030	2,187	1,906	2,002	2,286
Total	17,693	15,627	16,342	18,886	22,033	22,640	24,493	24,623	26,199	26,656	32,222	40,820	48,370	43,428	53,151	65,225

Foundry grew most over the fifteen years, from NT$583 billion to NT$4.17 trillion. IC design went from NT$455 billion to NT$1.42 trillion. Packaging and testing together went from NT$415 billion to NT$711 billion, and their share of the total fell from 23% to 11%.

The line fell in two years: by 11.7% in 2011 and by 10.2% in 2023. The association’s August 2026 estimate puts the whole of 2026 at NT$9.19 trillion, up 40.9%. That is an estimate, not an outcome.

74% Share of TSMC’s 2025 wafer revenue from 7-nanometre and more advanced processes (69% in 2024) ↗
58% Share of TSMC’s 2025 revenue from the high-performance-computing platform (43% in 2023) ↗
44% TrendForce’s estimate of Taiwan’s share of global foundry capacity in 2024; 66% for 16/14-nanometre and more advanced processes ↗
90,557 TSMC employees worldwide at the end of 2025 ↗

The full supply-chain map is below: switch between the three chains, or look up which link a company sits in.

Taiwan supply-chain map 2026

Three supply chains — semiconductors, AI servers and tungsten — broken into links: which Taiwanese companies work in each and which link is supplied from abroad, with a source on every node.

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Semiconductors

From a licensable block of circuitry to a fully tested chip. Taiwan has companies in design, foundry, and packaging and testing; the most critical lithography machines and design software come from abroad.

1
Silicon IP and design services

Licensing ready-made circuit blocks to chip companies, or taking a customer's custom chip design through to tape-out
- 創意 3443 ↗ Research, development, production, manufacturing, and sale of application-specific integrated circuits (embedded memory and logic components, design cell libraries, design automation tools), plus contracted technical services for customers
- 世芯-KY 3661 ↗ Design and manufacturing of highly complex, high-volume application-specific integrated circuits (ASIC) and systems-on-chip (SoC) developed for system companies
- 力旺 3529 ↗ Embedded non-volatile memory IP licensing and technical services
- M31 6643 ↗ Silicon IP licensing fees and royalties (silicon IP licensing)
Mainly supplied from abroad: EDA software used to design chips. GUC's annual report lists Cadence and Synopsys as silicon IP partners; none of the annual reports we reviewed list a Taiwan-based EDA supplier. ↗
2
IC design

Designing chips in-house and leaving manufacturing to others; the product sold is the designed chip
- 聯發科 2454 ↗ Research, development, production, manufacturing, and sale of multimedia ICs, computer peripheral ICs, high-end consumer electronics ICs, and other application-specific ICs
- 瑞昱 2379 ↗ Research, development, production, manufacturing, and sale of various ICs, plus application design, testing, repair, and technical consulting on the hardware and software of IC products
- 聯詠 3034 ↗ Research, development, design, production, manufacturing, and sale of ICs and systems for voice, communications, embedded microcontrollers, digital signal processors, computer peripheral control, LCD drivers, and more
- 信驊 5274 ↗ Multimedia ICs, computer peripheral ICs, high-end consumer electronics ICs
3
Wafer materials

Growing silicon into ingots and slicing them into wafers; chips are built on these discs
- 環球晶 6488 ↗ Research, design, and manufacturing of semiconductor ingots and wafers
- 台勝科 3532 ↗ Manufacturing and sale of silicon wafer electronic materials
4
Wafer foundry

Taking customers' designs and manufacturing the chips on wafers
- 台積電 2330 ↗ Manufacturing and sale of ICs and other wafer-based semiconductor devices according to customer orders and the product designs they provide, plus packaging and testing services, photomask making, and design services
- 聯電 2303 ↗ Wafer manufacturing services using advanced process technology, producing wafers for the IC industry's various applications
- 世界先進 5347 ↗ Manufacturing and sale of ICs according to customer orders and the product designs they provide, plus packaging and testing services, photomask making, and design services
- 力積電 6770 ↗ Production, manufacturing, testing, and packaging of various ICs and their system products; repair, development, manufacturing, and sale of semiconductor equipment components; ASIC technology integration services and silicon IP design and services
5
Memory

Making chips that store data, such as DRAM and flash memory
- 南亞科 2408 ↗ Focused on memory products; main products are DRAM chips (DDR2 to DDR5, LPDDR, and others)
- 華邦電 2344 ↗ Main products are flash memory (code storage flash memory) and customized memory solutions
6
Equipment and facilities

Building cleanrooms and fabs, making process equipment, and making the containers that carry wafers and photomasks
- 弘塑 3131 ↗ Engineering contracting, manufacturing, trading, and maintenance of semiconductor and IC manufacturing equipment; wet-process chemicals; semiconductor-related mechanical installation and electronic component manufacturing
- 家登 3680 ↗ Photomask solutions, wafer solutions, and machine equipment products
- 帆宣 6196 ↗ Sales and services of high-tech equipment and materials, customized equipment development and manufacturing, facility automation and integrated systems
- 漢唐 2404 ↗ Turnkey construction of advanced semiconductor manufacturing and packaging facilities, including cleanrooms, controls, and mechanical and electrical work, and renovation projects with clients to upgrade their processes
- 京鼎 3413 ↗ Semiconductor equipment, subsystems, and system integration; flat-panel display equipment, subsystems, and system integration
Mainly supplied from abroad: Extreme ultraviolet (EUV) lithography machines. ASML's website states that only it has this technology; it is headquartered in the Netherlands. The Taiwan companies listed in this stage make wet-process equipment, facility engineering, and carriers for wafers and photomasks. ↗
7
Packaging and testing

Cutting the wafer apart, packaging individual chips, and testing them before shipment
- 日月光投控 3711 ↗ Packaging and module design, IC packaging, multi-chip packaging, memory packaging; front-end testing, wafer probing, final testing; substrate design and manufacturing
- 力成 6239 ↗ Integrated circuit (IC) packaging and testing
- 京元電子 2449 ↗ Design, manufacturing, testing, accessories, processing, packaging, and sale of various ICs
- 矽格 6257 ↗ Design, processing, testing, packaging, and burn-in manufacturing and trading of various ICs; testing services for various ICs and wafers
8
Test interfaces

Probe cards, test sockets, and test boards that sit between the chip and the tester during chip testing
- 穎崴 6515 ↗ Semiconductor test interfaces, precision pogo pins, probe cards, temperature control modules
- 旺矽 6223 ↗ Processing, repair, and manufacturing of semiconductor test components; revenue comes mainly from sales of wafer probe cards and semiconductor equipment
- 精測 6510 ↗ Wafer test cards and technical services for IC test boards

Data table

Link	Company	What it does in this link	HQ
1. Silicon IP and design services	創意（3443）	Research, development, production, manufacturing, and sale of application-specific integrated circuits (embedded memory and logic components, design cell libraries, design automation tools), plus contracted technical services for customers	Hsinchu City
1. Silicon IP and design services	世芯-KY （3661）	Design and manufacturing of highly complex, high-volume application-specific integrated circuits (ASIC) and systems-on-chip (SoC) developed for system companies	Taipei
1. Silicon IP and design services	力旺（3529）	Embedded non-volatile memory IP licensing and technical services	Hsinchu City
1. Silicon IP and design services	M31 （6643）	Silicon IP licensing fees and royalties (silicon IP licensing)	Hsinchu County
2. IC design	聯發科（2454）	Research, development, production, manufacturing, and sale of multimedia ICs, computer peripheral ICs, high-end consumer electronics ICs, and other application-specific ICs	Hsinchu City
2. IC design	瑞昱（2379）	Research, development, production, manufacturing, and sale of various ICs, plus application design, testing, repair, and technical consulting on the hardware and software of IC products	Hsinchu County
2. IC design	聯詠（3034）	Research, development, design, production, manufacturing, and sale of ICs and systems for voice, communications, embedded microcontrollers, digital signal processors, computer peripheral control, LCD drivers, and more	Hsinchu County
2. IC design	信驊（5274）	Multimedia ICs, computer peripheral ICs, high-end consumer electronics ICs	Hsinchu City
3. Wafer materials	環球晶（6488）	Research, design, and manufacturing of semiconductor ingots and wafers	Hsinchu City
3. Wafer materials	台勝科（3532）	Manufacturing and sale of silicon wafer electronic materials	Yunlin
4. Wafer foundry	台積電（2330）	Manufacturing and sale of ICs and other wafer-based semiconductor devices according to customer orders and the product designs they provide, plus packaging and testing services, photomask making, and design services	Hsinchu City
4. Wafer foundry	聯電（2303）	Wafer manufacturing services using advanced process technology, producing wafers for the IC industry's various applications	Hsinchu City
4. Wafer foundry	世界先進（5347）	Manufacturing and sale of ICs according to customer orders and the product designs they provide, plus packaging and testing services, photomask making, and design services	Hsinchu County
4. Wafer foundry	力積電（6770）	Production, manufacturing, testing, and packaging of various ICs and their system products; repair, development, manufacturing, and sale of semiconductor equipment components; ASIC technology integration services and silicon IP design and services	Hsinchu City
5. Memory	南亞科（2408）	Focused on memory products; main products are DRAM chips (DDR2 to DDR5, LPDDR, and others)	New Taipei
5. Memory	華邦電（2344）	Main products are flash memory (code storage flash memory) and customized memory solutions	Taichung
6. Equipment and facilities	弘塑（3131）	Engineering contracting, manufacturing, trading, and maintenance of semiconductor and IC manufacturing equipment; wet-process chemicals; semiconductor-related mechanical installation and electronic component manufacturing	Hsinchu City
6. Equipment and facilities	家登（3680）	Photomask solutions, wafer solutions, and machine equipment products	New Taipei
6. Equipment and facilities	帆宣（6196）	Sales and services of high-tech equipment and materials, customized equipment development and manufacturing, facility automation and integrated systems	Taipei
6. Equipment and facilities	漢唐（2404）	Turnkey construction of advanced semiconductor manufacturing and packaging facilities, including cleanrooms, controls, and mechanical and electrical work, and renovation projects with clients to upgrade their processes	New Taipei
6. Equipment and facilities	京鼎（3413）	Semiconductor equipment, subsystems, and system integration; flat-panel display equipment, subsystems, and system integration	Miaoli
7. Packaging and testing	日月光投控（3711）	Packaging and module design, IC packaging, multi-chip packaging, memory packaging; front-end testing, wafer probing, final testing; substrate design and manufacturing	Kaohsiung
7. Packaging and testing	力成（6239）	Integrated circuit (IC) packaging and testing	Hsinchu County
7. Packaging and testing	京元電子（2449）	Design, manufacturing, testing, accessories, processing, packaging, and sale of various ICs	Hsinchu City
7. Packaging and testing	矽格（6257）	Design, processing, testing, packaging, and burn-in manufacturing and trading of various ICs; testing services for various ICs and wafers	Hsinchu County
8. Test interfaces	穎崴（6515）	Semiconductor test interfaces, precision pogo pins, probe cards, temperature control modules	Kaohsiung
8. Test interfaces	旺矽（6223）	Processing, repair, and manufacturing of semiconductor test components; revenue comes mainly from sales of wafer probe cards and semiconductor equipment	Hsinchu County
8. Test interfaces	精測（6510）	Wafer test cards and technical services for IC test boards	Taoyuan

AI servers

After the chips are made, they need substrates, cooling, power, chassis, and cabling, and are finally assembled into full server racks. Most stages of this chain are in Taiwan; GPU design and high-bandwidth memory are abroad.

1
GPU/ASIC design services

Someone has to design AI accelerators; Taiwan companies take on custom ASIC design-to-volume-production services
- 世芯-KY 3661 ↗ Design and manufacturing of highly complex, high-volume application-specific integrated circuits (ASIC) and systems-on-chip (SoC) developed for system companies
- 創意 3443 ↗ Research, development, production, manufacturing, and sale of application-specific integrated circuits (embedded memory and logic components, design cell libraries, design automation tools), plus contracted technical services for customers
Mainly supplied from abroad: The architecture of general-purpose GPUs is designed by companies such as NVIDIA and AMD. What Taiwanese companies do in this link is design services for custom chips.
2
Wafer foundry and advanced packaging

AI chips are first made in a wafer fab, then packaged onto the same substrate as high-bandwidth memory
- 台積電 2330 ↗ Manufacturing of ICs according to customer orders; CoWoS advanced packaging service integrating multiple systems-on-chip (SoC) with high-bandwidth memory (HBM)
- 日月光投控 3711 ↗ Packaging and module design, IC packaging, multi-chip packaging, memory packaging; front-end testing, wafer probing, final testing; substrate design and manufacturing
Mainly supplied from abroad: High-bandwidth memory (HBM). A 2022 SK hynix press release says its HBM3 is used in NVIDIA’s H100. ↗
3
ABF substrates, PCBs, and copper-clad laminates

Chips are mounted on substrates, and server motherboards are multilayer circuit boards; one raw material for both is copper-clad laminate
- 欣興 3037 ↗ Development, manufacturing, processing, and sale of printed circuit boards (PCB), high-density interconnect boards (HDI), flexible boards, rigid-flex boards, and IC carriers
- 景碩 3189 ↗ Manufacturing and sale of IC substrates: PBGA substrates, flip-chip substrates, and others
- 南電 8046 ↗ Production and sale of conventional printed circuit boards, HDI, rigid-flex boards, ABF substrates, and PP substrates
- 台光電 2383 ↗ Manufacturing, processing, and sale of copper-clad laminates for printed circuit boards, inner-layer copper-clad laminates, prepreg, and multilayer laminates
- 金像電 2368 ↗ Printed circuit boards (for communications and computer-related products, including server boards for AI and cloud use)
4
Cooling

AI servers consume a lot of power, so fans, thermal modules, or liquid cooling are needed to carry the heat away
- 奇鋐 3017 ↗ Thermal products (fans, heat sinks, thermal modules, heat exchangers, heat pipes/vapor chambers, and liquid cooling solutions such as cold plates), chassis and cabinets, system assembly, and hinges
- 雙鴻 3324 ↗ Thermal modules
5
Power

Converting mains electricity into power that servers and chips can use
- 台達電 2308 ↗ Power supply systems, brushless DC fans, thermal systems, and more; in recent years focused on AI data centers, microgrids, smart manufacturing, smart buildings, and green transportation
- 光寶科 2301 ↗ Design, development, production, and sale of products for data centers, servers, networking equipment, AI, and IoT, including server power supplies and energy storage system solutions
6
Chassis and slide rails

The metal enclosure of the server, and the slide rails that let servers be pulled in and out of the rack
- 勤誠 8210 ↗ Research, development, manufacturing, processing, and trading of server chassis and components, and desktop and industrial PC chassis
- 川湖 2059 ↗ Research, design, manufacturing, and sale of rails and server peripheral components; slide rails for various uses; concealed hinges
7
Cables and connectors

The cables, sockets, and connectors inside and outside the server
- 貿聯-KY 3665 ↗ Cables, wire harnesses, and connection modules and system solutions for markets including industrial automation, information technology and data centers, automotive, and medical
- 嘉澤 3533 ↗ Design, manufacturing, and sale of connectors, cables, sockets, and related components for servers, personal computers, automotive, industrial control, and medical applications
8
Complete system and rack assembly (ODM)

Assembling boards, cooling, and power into whole servers or racks and delivering them to cloud providers
- 鴻海 2317 ↗ Cloud networking, consumer intelligence, computer terminals, components, and other products; vertical integration of AI servers from design, key components, and modules to liquid cooling systems and complete system assembly
- 廣達 2382 ↗ Research, design, and manufacturing of servers, notebook computers, automotive electronics, and other consumer electronics (mainly for export)
- 緯創 3231 ↗ Research, development, design, production, manufacturing, testing, and after-sales service of servers, workstations, AI computing equipment, high-performance multi-CPU computer systems and their key components, as well as PCs, notebooks, and mobile phones
- 緯穎 6669 ↗ Cloud computing infrastructure solutions: computing and storage equipment and system integration for hyperscale data centers
- 英業達 2356 ↗ Production and sale of computer and smart terminal products; enterprise solutions including servers, storage equipment, switches, artificial intelligence solutions, and rack solutions

Data table

Link	Company	What it does in this link	HQ
1. GPU/ASIC design services	世芯-KY （3661）	Design and manufacturing of highly complex, high-volume application-specific integrated circuits (ASIC) and systems-on-chip (SoC) developed for system companies	Taipei
1. GPU/ASIC design services	創意（3443）	Research, development, production, manufacturing, and sale of application-specific integrated circuits (embedded memory and logic components, design cell libraries, design automation tools), plus contracted technical services for customers	Hsinchu City
2. Wafer foundry and advanced packaging	台積電（2330）	Manufacturing of ICs according to customer orders; CoWoS advanced packaging service integrating multiple systems-on-chip (SoC) with high-bandwidth memory (HBM)	Hsinchu City
2. Wafer foundry and advanced packaging	日月光投控（3711）	Packaging and module design, IC packaging, multi-chip packaging, memory packaging; front-end testing, wafer probing, final testing; substrate design and manufacturing	Kaohsiung
3. ABF substrates, PCBs, and copper-clad laminates	欣興（3037）	Development, manufacturing, processing, and sale of printed circuit boards (PCB), high-density interconnect boards (HDI), flexible boards, rigid-flex boards, and IC carriers	Taoyuan
3. ABF substrates, PCBs, and copper-clad laminates	景碩（3189）	Manufacturing and sale of IC substrates: PBGA substrates, flip-chip substrates, and others	Taoyuan
3. ABF substrates, PCBs, and copper-clad laminates	南電（8046）	Production and sale of conventional printed circuit boards, HDI, rigid-flex boards, ABF substrates, and PP substrates	Taipei
3. ABF substrates, PCBs, and copper-clad laminates	台光電（2383）	Manufacturing, processing, and sale of copper-clad laminates for printed circuit boards, inner-layer copper-clad laminates, prepreg, and multilayer laminates	Taoyuan
3. ABF substrates, PCBs, and copper-clad laminates	金像電（2368）	Printed circuit boards (for communications and computer-related products, including server boards for AI and cloud use)	Taoyuan
4. Cooling	奇鋐（3017）	Thermal products (fans, heat sinks, thermal modules, heat exchangers, heat pipes/vapor chambers, and liquid cooling solutions such as cold plates), chassis and cabinets, system assembly, and hinges	Kaohsiung
4. Cooling	雙鴻（3324）	Thermal modules	New Taipei
5. Power	台達電（2308）	Power supply systems, brushless DC fans, thermal systems, and more; in recent years focused on AI data centers, microgrids, smart manufacturing, smart buildings, and green transportation	Taoyuan
5. Power	光寶科（2301）	Design, development, production, and sale of products for data centers, servers, networking equipment, AI, and IoT, including server power supplies and energy storage system solutions	Taipei
6. Chassis and slide rails	勤誠（8210）	Research, development, manufacturing, processing, and trading of server chassis and components, and desktop and industrial PC chassis	New Taipei
6. Chassis and slide rails	川湖（2059）	Research, design, manufacturing, and sale of rails and server peripheral components; slide rails for various uses; concealed hinges	Kaohsiung
7. Cables and connectors	貿聯-KY （3665）	Cables, wire harnesses, and connection modules and system solutions for markets including industrial automation, information technology and data centers, automotive, and medical	New Taipei
7. Cables and connectors	嘉澤（3533）	Design, manufacturing, and sale of connectors, cables, sockets, and related components for servers, personal computers, automotive, industrial control, and medical applications	Keelung
8. Complete system and rack assembly (ODM)	鴻海（2317）	Cloud networking, consumer intelligence, computer terminals, components, and other products; vertical integration of AI servers from design, key components, and modules to liquid cooling systems and complete system assembly	New Taipei
8. Complete system and rack assembly (ODM)	廣達（2382）	Research, design, and manufacturing of servers, notebook computers, automotive electronics, and other consumer electronics (mainly for export)	Taoyuan
8. Complete system and rack assembly (ODM)	緯創（3231）	Research, development, design, production, manufacturing, testing, and after-sales service of servers, workstations, AI computing equipment, high-performance multi-CPU computer systems and their key components, as well as PCs, notebooks, and mobile phones	Hsinchu County
8. Complete system and rack assembly (ODM)	緯穎（6669）	Cloud computing infrastructure solutions: computing and storage equipment and system integration for hyperscale data centers	New Taipei
8. Complete system and rack assembly (ODM)	英業達（2356）	Production and sale of computer and smart terminal products; enterprise solutions including servers, storage equipment, switches, artificial intelligence solutions, and rack solutions	Taipei

Tungsten

Tungsten is used in cutting tools and also in chip manufacturing. In this chain, Taiwan has recycling and refining plus downstream processing. The US Geological Survey estimates global mine production in 2025 at 85,000 tonnes, of which China accounted for 67,000 tonnes; since February 2025, China has imposed export controls on tungsten-related items.

1
Tungsten ore and concentrate (mining)

Digging tungsten-bearing ore out of mines and beneficiating it into concentrate; the furthest upstream stage of the chain
No Taiwanese company is listed for this link.

Mainly supplied from abroad: Tungsten mining. The US Geological Survey's 2026 edition statistics: estimated global mine production in 2025 was 85,000 tonnes, of which China accounted for 67,000 tonnes. For this stage we found no official data on any Taiwan company. ↗
2
Recycling and refining: sodium tungstate, APT, tungsten oxide

Leaching tungsten from scrap cemented carbide and cutting swarf, purifying it, and making the tungsten compounds that downstream users need
- 聯友金屬 7610 ↗ Using secondary cemented carbide and secondary tungsten and cobalt resources as raw materials, reducing them to tungsten and cobalt metal materials; current main products are sodium tungstate and cobalt sulfate solution
- 京沅鎢鈷資源 ↗ Reprocessing recycled tungsten-bearing scrap, secondary tungsten powder, secondary alloys, sodium tungstate, and calcium tungstate into ammonium paratungstate (APT), tungsten oxide, and cobalt carbonate
3
Tungsten powder and tungsten carbide powder

Reducing tungsten oxide to tungsten powder, then combining it with carbon into tungsten carbide powder, the raw material for cemented carbide
- 聯友金屬 7610 ↗ Tungsten carbide processing and smelting is listed among the company’s products; its main current products remain sodium tungstate and cobalt sulphate solution
- 京沅鎢鈷資源 ↗ Plans to produce tungsten powder and tungsten carbide powder; its website describes this as an investment plan under preparation, not an existing product
4
Cemented carbide cutting tools

Pressing and sintering tungsten carbide powder with cobalt, then grinding it into turning tools, milling cutters, and drill bits, used in machine tools and in electronic component machining
- 萬事達切削科技 ↗ Manufacturing cutting tools by pressing, sintering, grinding, and coating
5
Tungsten hexafluoride (WF6) for semiconductors

A gas used in chip manufacturing to deposit tungsten, layer by layer, into the contact holes of a chip
No Taiwanese company is listed for this link.

Mainly supplied from abroad: We found no official documents on whether any Taiwan company produces this, so none is listed.
6
Tungsten sputtering targets

Metal targets used in sputtering processes, of which tungsten is one material
- 光洋科 1785 ↗ Manufacturing of thin-film sputtering targets and evaporation materials; one of the main raw materials of thin-film sputtering materials is tungsten

Data table

Link	Company	What it does in this link	HQ
2. Recycling and refining: sodium tungstate, APT, tungsten oxide	聯友金屬（7610）	Using secondary cemented carbide and secondary tungsten and cobalt resources as raw materials, reducing them to tungsten and cobalt metal materials; current main products are sodium tungstate and cobalt sulfate solution	Pingtung
2. Recycling and refining: sodium tungstate, APT, tungsten oxide	京沅鎢鈷資源	Reprocessing recycled tungsten-bearing scrap, secondary tungsten powder, secondary alloys, sodium tungstate, and calcium tungstate into ammonium paratungstate (APT), tungsten oxide, and cobalt carbonate	Pingtung
3. Tungsten powder and tungsten carbide powder	聯友金屬（7610）	Tungsten carbide processing and smelting is listed among the company’s products; its main current products remain sodium tungstate and cobalt sulphate solution	Pingtung
3. Tungsten powder and tungsten carbide powder	京沅鎢鈷資源	Plans to produce tungsten powder and tungsten carbide powder; its website describes this as an investment plan under preparation, not an existing product	Pingtung
4. Cemented carbide cutting tools	萬事達切削科技	Manufacturing cutting tools by pressing, sintering, grinding, and coating	Tainan
6. Tungsten sputtering targets	光洋科（1785）	Manufacturing of thin-film sputtering targets and evaporation materials; one of the main raw materials of thin-film sputtering materials is tungsten	Tainan

Node sources accessed: 2026-11-10

The companies and roles on this map are compiled from public information and are used only to describe supply-chain structure. Being listed is not a recommendation, and not being listed does not mean a company is unimportant. Taiwan.md does not rate individual stocks or forecast prices; nothing here is investment advice.

出典

Company annual reports and websites, accessed 2026-11-10

A table of fifty rows, and the first row is nearly four-tenths of it.

One company is 38% of the listed market; the top fifty together are 76%

At the close on 2026-10-22, the common shares listed on the TWSE and the TPEx were worth NT$161.43T in total. Cut that into four pieces.

What the listed market is made of (close of 2026-10-22)

38.3%

16.6%

20.8%

24.3%

TSMC：38.3%
Ranks 2–10：16.6%
Ranks 11–50：20.8%
All other listed companies：24.3%

Market cap = closing price on 2026-10-22 × common shares outstanding; TWSE plus TPEx, excluding the Emerging Stock Board, ETFs and preferred shares. Source: TWSE and TPEx OpenAPI.

Counting TWSE-listed companies only, TSMC is 41.0% and the top ten together are 58.7%.

Of the top fifty, the TWSE classifies 11 as semiconductors; they hold 64% of the list’s market cap

Market cap summed by official TWSE industry; number of companies in brackets.

Source: Snapshot at the close of 2026-10-22; industry from TWSE and TPEx company profiles

Data table

Item	Combined market cap
Semiconductors（11）	785,395
Electronic components（9）	125,704
Finance & insurance（12）	122,158
Computers & peripherals（7）	61,169
Other electronics（2）	42,906
Plastics（2）	28,570
Communications & internet（3）	27,169
Oil, gas & electricity（1）	10,145
Optoelectronics（1）	8,077
Shipping & transport（1）	5,629
Biotech & medical（1）	4,900

Last trading day of each year, TWSE-listed companies only. The exchange’s historical shares-outstanding data begin in 2004; earlier years are not available.

Source: 臺灣證券交易所 — 外資及陸資投資持股統計（發行股數）與每日收盤行情，逐年年底

Data table

Year	TSMC
2004	8.4%
2005	9.9%
2006	9.0%
2007	7.6%
2008	9.7%
2009	7.9%
2010	7.7%
2011	10.2%
2012	11.8%
2013	11.2%
2014	13.6%
2015	15.1%
2016	17.3%
2017	18.7%
2018	19.9%
2019	23.6%
2020	30.6%
2021	28.3%
2022	26.3%
2023	27.1%
2024	37.7%
2025	42.6%

Top ten by market cap at each year-end
Rank	2005	2010	2015	2020	2025
1	TSMC	TSMC	TSMC	TSMC	TSMC
2	Foxconn	Foxconn	Foxconn	Foxconn	Foxconn
3	中華電信	台塑化	中華電信	MediaTek	Delta
4	台塑化	HTC	台塑化	台塑化	MediaTek
5	國泰金融持株	中華電信	國泰金融持株	中華電信	富邦金融持株
6	UMC	台塑	台塑	Delta	國泰金融持株
7	南亞塑膠	南亞塑膠	南亞塑膠	台塑	ASE
8	MediaTek	Formosa Chemicals & Fibre	富邦金融持株	UMC	Quanta
9	ASUS	國泰金融持株	Formosa Chemicals & Fibre	南亞塑膠	中華電信
10	AUO	MediaTek	Delta	國泰金融持株	中信金融持株
Top ten as a share of TWSE market cap	34.9%	33.9%	38.1%	46.8%	58.1%
of which TSMC	9.9%	7.7%	15.1%	30.6%	42.6%

＋ marks a company that was not in the top ten in the previous column. Market cap = closing price on the last trading day of the year × shares outstanding that day, TWSE-listed companies only. The lists for 2023 to 2025 were checked against the top ten published in the exchange’s monthly review and match in names and order.

At the end of 2005 the top ten included Formosa Petrochemical, UMC, Nan Ya Plastics, ASUS and AUO. Twenty years later five remain: TSMC, Hon Hai, MediaTek, Chunghwa Telecom and Cathay Financial. TSMC went from 9.9% of TWSE market cap to 42.6%, and the top ten together from 34.9% to 58.1%.

Five names on the list changed in four months. Between June and October 2026 ASPEED, Advantech, Kinsus, PharmaEssentia and MPI entered; Uni-President, Far EasTone, BizLink, KYEC and WinWay dropped out. Finance and insurance has 12 companies on the list, one more than semiconductors, with less than a sixth of their combined market cap.

The top ten are shown first; press “Show all 50” to expand, or use the menus above to sort and filter.

Taiwan top 50 companies by market cap

Sort by market cap, revenue, employees or founding year and filter by TWSE industry and headquarters county; market cap as of the close on 2026-10-22.

単独ページで開く埋め込む

Showing 50 companies, NT$1,221,822 B combined market cap, 100.0% of the top 50

#	企業	セクター	時価総額（億 TWD）	2025年売上高（億 TWD）	従業員数	設立	HQ	vs June list (direction only)
1	TSMC 台積電 2330	半導体	618,487	38,090	90,557	1987	Hsinchu City	–
2	MediaTek 聯發科 2454	半導体	64,359	5,960	22,546	1997	Hsinchu City	▲1
3	Delta 台達電 2308	電子部品	40,522	5,549	83,000	1971	Taipei	▼1
4	Foxconn 鴻海 2317	電子OEM	34,486	81,000	826,608	1974	New Taipei	–
5	ASE 日月光 3711	半導体	29,238	6,454	84,000	1984	Kaohsiung	–
6	南亞塑膠 1303	石油化学	23,872	2,599	29,108	1958	Taipei	▲14
7	富邦金融持株 2881	金融	22,202	3,815	43,000	2001	Taipei	▲2
8	Elite Material 台光電 2383	PCB	18,167	943	5,310	1992	Taoyuan	▼2
9	欣興電子 3037	PCB	17,808	1,312	14,592	1990	Taoyuan	▼2
10	國泰金融持株 2882	金融	16,650	3,492	54,009	2001	Taipei	▲1
11	UMC 聯電 2303	半導体	15,775	2,376	20,000	1980	Hsinchu City	▲4
12	中信金融持株 2891	金融	14,737	2,449	31,000	2002	Taipei	▲2
13	Nanya Technology 南亞科 2408	半導体	14,284	666	3,693	1995	New Taipei	▲10
14	Quanta 廣達 2382	電子OEM	13,227	21,237	64,935	1988	Taoyuan	▼4
15	AVC 奇鋐 3017	放熱	12,349	1,396	10,732	1991	Kaohsiung	▼3
16	中華電信 2412	通信	12,257	2,361	20,143	1996	Taipei	▼3
17	Taishin Shin Kong 台新新光金 2887	金融	10,573	1,509	30,000	2002	Taipei	▲9
18	Yageo 國巨 2327	電子部品	10,460	1,329	30,624	1987	New Taipei	▲6
19	緯穎科技 6669	サーバー	10,308	9,507	7,257	2012	New Taipei	▼1
20	Global Unichip 創意 3443	半導体	10,165	341	882	1998	Hsinchu City	▲8
21	台塑化 6505	石油化学	10,145	6,261	5,110	1992	Taipei	▲9
22	元大金融持株 2885	金融	10,038	1,284	15,548	2002	Taipei	–
23	Accton 智邦 2345	ネットワーク機器	9,960	2,483	6,930	1988	Hsinchu County	▼15
24	Hon Precision 鴻勁 7769	検査・測定	9,491	303	800	2015	Taichung	▼7
25	King Slide 川湖 2059	精密機械	9,296	175	1,500	1986	Kaohsiung	▲19
26	Jentech 健策 3653	放熱	8,935	203	1,839	1987	Taoyuan	▼7
27	玉山金融持株 2884	金融	8,817	918	9,268	2002	Taipei	▲4
28	Chroma ATE 致茂 2360	検査・測定	8,420	283	3,582	1984	Taoyuan	▼12
29	兆豐金融持株 2886	金融	8,188	820	9,838	2002	Taipei	▼2
30	Nan Ya PCB 南電 8046	PCB	8,174	402	5,920	1997	Taoyuan	▼5
31	Largan 大立光 3008	光学	8,077	612	8,755	1987	Taichung	▲17
32	華南金融持株 2880	金融	7,070	695	11,423	2001	Taipei	▲2
33	ASUS 華碩 2357	PCブランド	7,027	7,389	17,000	1989	Taipei	▲4
34	Winbond 華邦電 2344	半導体	6,953	894	8,097	1987	Taichung	▲6
35	SinoPac 永豐金 2890	金融	6,852	744	15,268	2002	Taipei	▼2
36	ASPEED 信驊 5274	半導体	6,657	91	140	2004	Hsinchu City	New entry
37	Wistron 緯創 3231	電子OEM	6,517	21,865	80,000	2001	Hsinchu County	▼1
38	Zhen Ding 臻鼎 4958	PCB	6,426	1,825	48,141	2006	Taoyuan	▼6
39	KGI 凱基金 2883	金融	6,408	650	25,000	2001	Taipei	▲7
40	第一金融持株 2892	金融	6,090	776	8,623	2003	Taipei	▼1
41	光寶科技 2301	電子部品	5,918	1,661	33,163	1975	Taipei	▲1
42	Gold Circuit 金像電 2368	PCB	5,916	597	8,150	1981	Taoyuan	▼21
43	Advantech 研華 2395	産業用コンピュータ	5,823	709	8,849	1981	Taipei	New entry
44	長榮海運 2603	海運	5,629	3,790	13,265	1968	Taipei	▼9
45	Kinsus 景碩 3189	PCB	5,195	394	6,401	2000	Taoyuan	New entry
46	台湾大哥大 3045	通信	4,952	1,988	10,645	1997	Taipei	▼8
47	PharmaEssentia 藥華藥 6446	バイオ	4,900	156	600	2000	Taipei	New entry
48	MPI 旺矽 6223	検査・測定	4,791	134	1,800	1995	Hsinchu County	New entry
49	台塑 1301	石油化学	4,698	1,754	7,306	1954	Taipei	▲1
50	合庫金融持株 5880	金融	4,533	738	8,771	2011	Taipei	▼3

The ranking is compiled from public filings: market capitalisation is a snapshot at the close on 2026-10-22, revenue is the full year 2025. Taiwan.md does not rate individual stocks, forecast prices or recommend any trade.

“vs June list” compares against this page’s June 2026 edition. That edition covered TWSE-listed companies only and derived market cap from index weights; this edition multiplies the closing price by common shares outstanding and covers both the TWSE and the TPEx. The methods differ, so read the rank changes for direction only.

Headquarters is the registered address in the TWSE and TPEx company profiles (as of 2026-11-09); operations may be elsewhere. The industry filter uses the official TWSE classification, which differs from the “Sector” column, that column is Taiwan.md’s own grouping by supply-chain position.

The market capitalisation, revenue and industry classifications cited in this feature come from public filings and are used only to describe industrial structure. Taiwan.md does not rate individual stocks, forecast prices or recommend any trade.

出典

Market cap: TWSE and TPEx OpenAPI, close of 2026-10-22. Revenue: company filings for full-year 2025.

Taichung has the most factories, Taoyuan the most revenue, and the Southern park the largest park revenue.

Taoyuan has the highest factory revenue; Kaohsiung is second

According to the Ministry of Economic Affairs’ factory census, 93,564 factories were operating in 2024, with combined annual revenue of NT$21.92T. Here they are allocated to the 22 counties and cities by factory location.

Factory revenue by county, 2024: Taoyuan leads with NT$4.48T

Darker means more. Counted by factory location; factories inside science parks belong to the county they stand in.

Lienchiang —

Taipei 118.4B

Keelung 55.6B

Taoyuan 4.48T

New Taipei 1.70T

Yilan 173.7B

Kinmen 14.0B

Hsinchu City 1.16T

Hsinchu County 2.21T

Miaoli 762.7B

Taichung 2.48T

Hualien 40.5B

Changhua 890.4B

Nantou 220.1B

Penghu 1.0B

Yunlin 1.26T

Chiayi City 41.3B

Chiayi County 321.1B

Tainan 2.57T

Kaohsiung 3.12T

Pingtung 276.8B

Taitung 11.1B

Source: 經濟部統計處 — 113年工廠校正及營運調查報告表1-3 各縣市歷年統計表─按工廠家數、年底從業員工數、全年營業收入、新增固定資產分

Data table

County / city	Factory revenue	Top-fifty headquarters
Taoyuan	4.48T	9
Kaohsiung	3.12T	3
Tainan	2.57T
Taichung	2.48T	3
Hsinchu County	2.21T	3
New Taipei	1.70T	4
Yunlin	1.26T
Hsinchu City	1.16T	5
Changhua	890.4B
Miaoli	762.7B
Chiayi County	321.1B
Pingtung	276.8B
Nantou	220.1B
Yilan	173.7B
Taipei	118.4B	23
Keelung	55.6B
Chiayi City	41.3B
Hualien	40.5B
Kinmen	14.0B
Taitung	11.1B
Penghu	1.0B
Lienchiang	—

The top six are Taoyuan, Kaohsiung, Tainan, Taichung, Hsinchu County and New Taipei: NT$16.6 trillion together, three-quarters of the national total. Taipei City’s factories made only NT$118.4 billion, yet it is the registered address of 23 of the top fifty companies, the plants are elsewhere, the head offices and financial holdings are in Taipei.

Rank by number of factories and the picture changes. Taichung has the most with 18,809, then New Taipei with 17,669, Changhua with 12,619 and Taoyuan with 11,827. Changhua has nearly seven times as many factories as Hsinchu County and four-tenths of its revenue.

A few clusters with an official source

Hsinchu City・Hsinchu County

Hsinchu: integrated circuits

The Hsinchu Science Park was founded in 1980. The National Science and Technology Council describes its integrated-circuit cluster as “vertically integrated across upstream, midstream and downstream” and the driver of the park’s revenue growth. ↗

Tainan

Tainan: leading-edge chips and display panels

The Tainan base of the Southern Taiwan Science Park. The park bureau’s history records TSMC building its 5-nanometre and 3-nanometre fabs here from 2017; in optoelectronics the core is the panel supply chain around Innolux and HannStar. ↗

Kaohsiung

Kaohsiung (Luzhu): semiconductor materials

The Kaohsiung base of the Southern Taiwan Science Park. According to the park bureau, once leading-edge processes settled in the Southern park a cluster of semiconductor materials and components formed here, with Merck, Entegris, VisEra and Winbond among those that moved in. ↗

Taichung

Taichung (Dadu Mountain): precision machinery

The Taichung City Government calls the foot of Dadu Mountain a “golden valley of precision machinery”, covering machine tools and components, bicycles and parts, woodworking machinery, hand tools and aerospace. ↗

Changhua

Changhua (Lukang, Hemei): taps and bathroom hardware

Taps and similar plumbing hardware. The Changhua County Government says the industry has grown around Lukang and Hemei for decades, with raw materials, machining, surface treatment and finished goods all made there. ↗

Kaohsiung

Kaohsiung (Gangshan, Luzhu): screws and fasteners

Citing the factory census, the Kaohsiung City Government says Taiwan had more than 1,800 screw, nut and rivet factories in 2019, over 700 of them clustered in Luzhu and Gangshan. ↗

Yunlin

Yunlin (Mailiao): petrochemicals

Formosa Plastics’ Sixth Naphtha Cracker complex. A 2008 Executive Yuan release notes that the project reclaimed 2,603 hectares from the sea and had become a complete petrochemical industrial park. ↗

Bases of the three science parks

Park	Base	County / city	Approved or founded
竹科	新竹園區	—	1980
竹科	竹南園區	苗栗縣	1997
竹科	龍潭園區	桃園市	2004
竹科	銅鑼園區	苗栗縣	—
竹科	宜蘭園區	宜蘭縣	2005
竹科	新竹生物醫學園區	新竹縣	—
中科	台中園區	台中市	—
中科	虎尾園區	雲林縣	—
中科	后里園區（后里基地、七星基地）	台中市	—
中科	二林園區	彰化縣	—
中科	中興園區	南投縣	—
南科	臺南園區（一、二期）	臺南市	1995
南科	臺南園區三期	臺南市	2020
南科	高雄園區	高雄市	2001
南科	橋頭園區（高雄第二園區）	高雄市	2019
南科	屏東園區	屏東縣	2022
南科	嘉義園區（一期、二期）	嘉義縣	2022
南科	楠梓園區（南科）	高雄市	2023
南科	沙崙園區	臺南市	2025

The tile map shows totals, not divided by population or area. It answers “where is the output”, not “where do people earn more”. Lienchiang County’s revenue is withheld because it has too few factories.

The same wafer fab: some see a shield, some see a risk.

Six debates, each side in its own words

Every card below is a named, public statement, quoted from the original with its date and source. The order is fixed: those raising a concern first, those responding after. This section draws no conclusion.

Is the chip industry a “sacred mountain” protecting the country, or has it given Taiwan “Dutch disease”?

“Dutch disease” describes a single export sector so strong that it pushes up the exchange rate and wages and squeezes other industries. In November 2025 The Economist applied the term to Taiwan and the central bank responded publicly; the domestic debate had started earlier.

「台灣是否已罹患荷蘭病？或許尚未到病入膏肓的地步，但症狀已浮現。」

Translation: Has Taiwan already caught Dutch disease? Perhaps it is not yet beyond cure, but the symptoms have appeared.

陳國祥， author of “The Economic Chessboard of the New Cold War”
2026-11-03・book excerpt carried by udn.com ↗

台灣不能只有一個產品、一個產業，因為孤注一擲於單一產業，就好像一座森林植物太過單一，容易有一榮俱榮、一枯俱枯的現象

Translation: Taiwan cannot have just one product and one industry; staking everything on a single industry is like a forest with too few species, where everything flourishes together and withers together.

T.H. Tung， chairman of Pegatron
2025-03-07・Storm Media 11th-anniversary forum (reported by CNA) (paraphrase, not a verbatim quote) ↗

「當前台灣面臨電子資通訊製造業表現優於傳統製造業之分化狀況，惟傳統製造業仍持續成長，並努力朝高值化方向，以及跨入AI等供應鏈，進行產業升級轉型，與1960年代之荷蘭產業發展存在顯著差異」

Translation: Taiwan currently faces a divergence in which electronics and ICT manufacturing outperforms traditional manufacturing, but traditional manufacturing continues to grow, is moving towards higher value and into AI and other supply chains, and is upgrading and transforming, markedly different from the industrial development of the Netherlands in the 1960s.

Central Bank of the Republic of China (Taiwan)， monetary authority
2026-06-18・post-board-meeting briefing paper “A Study of Taiwan’s Current Industrial Development” ↗

台灣在先進晶片製造領域的領先優勢為台灣經濟具韌性的關鍵驅動因素，有助維持強勁成長與競爭力；惟「科技業」與「傳產製造業及服務業」間的成長不均，以及人口老化帶來挑戰

Translation: Taiwan’s lead in advanced chip manufacturing is a key driver of its economic resilience and helps sustain strong growth and competitiveness; however, uneven growth between the “technology sector” and “traditional manufacturing and services”, together with population ageing, poses challenges.

Moody’s， international credit-rating agency
2026-06-03・sovereign rating report on Taiwan (as summarised in a central bank press release) (paraphrase, not a verbatim quote) ↗

7.0% : 1.6% Compound annual growth of output, 2017–2024: electronics and ICT manufacturing vs traditional manufacturing (central bank compilation) ↗
62.7% → 53.7% Traditional manufacturing’s share of manufacturing output, 2017 and 2024 (central bank compilation) ↗

Is the concentration of industry and the stock market in electronics a risk, or the result of specialisation?

In the fourth quarter of 2025 the electronics sector made up 76.27% of the weight of the TWSE index, up from 71.10% a year earlier. The same central bank report sets out the risk and the advantage on the same page.

「AI投資熱潮推升臺股AI相關產業股價，惟市場資金集中於少數AI族群，將放大單一產業趨勢變化對整體市場之衝擊。」

Translation: The AI investment boom has lifted the prices of AI-related stocks in Taiwan, but the concentration of market funds in a small group of AI names will magnify the impact on the whole market of any change in a single industry’s trend.

Central Bank of the Republic of China (Taiwan)， monetary authority
2026-05-29・Financial Stability Report, No. 20 ↗

「景氣波動風險：若科技景氣反轉，可能加劇台灣經濟波動。」

Translation: Cyclical risk: if the technology cycle reverses, it may amplify fluctuations in Taiwan’s economy.

Central Bank of the Republic of China (Taiwan)， monetary authority
2026-06-18・post-board-meeting briefing paper “A Study of Taiwan’s Current Industrial Development” ↗

「當前台灣經濟表現集中於電子資通訊製造業，並非國內市場失衡，而是順應全球市場需求的專業化分工表現。」

Translation: The current concentration of Taiwan’s economic performance in electronics and ICT manufacturing is not a domestic market imbalance but an expression of specialisation in response to global market demand.

Central Bank of the Republic of China (Taiwan)， monetary authority
2026-06-18・post-board-meeting briefing paper “A Study of Taiwan’s Current Industrial Development” ↗

年線以下個股比重確實偏高，但此一現象本質上，仍是反映景氣循環與市場預期心理

Translation: The share of stocks trading below their one-year moving average is indeed high, but in essence this still reflects the business cycle and market expectations.

Peng Jin-lung， chairperson of the Financial Supervisory Commission
2026-01-07・answering questions at the Legislative Yuan Finance Committee (reported by ETtoday) (paraphrase, not a verbatim quote) ↗

71.10% → 76.27% Electronics sector’s weight in the TWSE index, Q4 2024 and Q4 2025 (central bank Financial Stability Report, p. 48) ↗
9.9% → 42.6% TSMC’s share of TWSE market cap, end-2005 and end-2025 (section 5 of this page, computed from TWSE data) ↗

How should the water and power used by chip fabs be weighed against households, farming and decarbonisation?

The Energy Administration’s June 2026 report projects electricity demand to grow 2.5% a year over the next decade, against 1.24% over the past one. In late 2020 the Council of Agriculture announced that irrigation would be suspended for the following first crop on 19,000 hectares of farmland in the Chianan district.

「但是目前以10年為目標，我們比較難看到就是，它在過程中，比較務實的一些執行方案，所以我們是期待這個，淨零跟再生能源的部份可以用5年為期。」

Translation: With a ten-year target as it stands, what we find hard to see is the more practical implementation plans along the way. So what we hope is that the net-zero and renewable-energy part can be set in five-year terms.

鄧宇佑， marketing director, Citizen of the Earth, Taiwan
2024-06-25・interviewed after the environmental review of TSMC’s third 2-nanometre fab in Kaohsiung (PTS News) ↗

「台積電能夠宣示加速RE100目標，固然是一個良好的開端，但仍建議台積電學習其他加入RE100的企業公開2040年RE100路徑」

Translation: TSMC’s pledge to bring forward its RE100 target is certainly a good start, but we still advise TSMC to follow other RE100 members and publish its pathway to RE100 in 2040.

陳詠仁， climate and energy project manager, Greenpeace
2023-09-15・Greenpeace press release ↗

「半導體等高附加價值產業用電成長快速並帶動經濟成長，傳統產業用電則呈下滑，兩者正負相抵後用電成長大致持平」

Translation: Electricity use by semiconductors and other high-value-added industries is growing fast and driving economic growth, while use by traditional industries is declining; the two offset each other and overall electricity growth is roughly flat.

Energy Administration, Ministry of Economic Affairs， energy authority
2026-06-18・National Electricity Supply and Demand Report, 2025 edition ↗

「民國119年再生能源占比達60%，民國129年再生能源占比達100%。」

Translation: Renewable energy to reach 60% in 2030 and 100% in 2040.

TSMC， company annual report
2026・2025 annual report, climate-change management targets ↗

283.0 TWh National electricity consumption in 2025 (283.01 TWh), 0.3% less than in 2024 (Energy Administration) ↗
2.5% : 1.24% Average annual growth in electricity demand: 2026–2035 projection vs 2016–2025 actual (Energy Administration) ↗
19,000 ha Farmland in the Chianan district where irrigation was suspended for the first crop of 2021: 19,000 hectares (Council of Agriculture release, 2020-11-25) ↗
20.1% TSMC’s renewable-energy share in 2025 (annual report) ↗

Have the high wages in tech reached people in other industries?

Both sides cite the same wage statistics and read them differently. We could not find a named public statement from a tech-sector union or labour group on working hours and shifts.

「所得分配惡化：科技紅利集中特定勞動族群，一般民眾感受程度較低，所得分配狀況可能惡化。」

Translation: Worsening income distribution: the technology dividend is concentrated among particular groups of workers, the general public feels it less, and income distribution may deteriorate.

Central Bank of the Republic of China (Taiwan)， monetary authority
2026-06-18・one of the risks “to keep watching” listed in the same briefing paper ↗

「半導體工程師年薪動輒百萬、甚至數百萬新臺幣，分紅與股票獎酬屢創新高；相對之下，餐飲、零售、觀光等內需服務業，薪資成長卻遠落後於通膨。」

Translation: Semiconductor engineers routinely earn a million or several million New Taiwan dollars a year, with bonuses and stock awards setting new records; by contrast, in domestic services such as restaurants, retail and tourism, wage growth lags far behind inflation.

陳國祥， author of “The Economic Chessboard of the New Cold War”
2026-11-02・book excerpt carried by udn.com ↗

台積電等科技產業磁吸效應明顯，很多人都跑去科技業，讓傳產在人力市場競爭更加吃力

Translation: The pull of TSMC and other tech industries is obvious; many people have gone to tech, making it harder for traditional industries to compete for labour.

楊芳益， secretary-general, Taiwan Industrial Fasteners Institute
2026-05-09・industry forum after a Democratic Progressive Party policy briefing in Kaohsiung (reported by United Daily News) (paraphrase, not a verbatim quote) ↗

「近年台灣傳產製造業薪資漲幅不大，較電子資通訊業漲幅明顯為低，而就業呈現下滑，反映勞動需求減少，與荷蘭病工資上漲之症狀不同」

Translation: In recent years wages in Taiwan’s traditional manufacturing have risen little, clearly less than in electronics and ICT, while employment has declined, reflecting weaker labour demand, unlike the rising wages that are a symptom of Dutch disease.

Central Bank of the Republic of China (Taiwan)， monetary authority
2022-11-06・press reference paper “Taiwan’s economic development shows no Dutch disease” ↗

This is the only public statement we found from the responding side.

NT$546,000 Median total annual earnings of all employees in 2024: NT$546,000 (DGBAS) ↗
18.5 : 9.4 hours Overtime hours per employee in April 2026: manufacturing vs all employees (DGBAS) ↗

Is building fabs abroad an extension of strength, or a sharing-out of the “silicon shield”?

TSMC raised its planned investment in Arizona to US$165 billion in March 2025. That September the US commerce secretary publicly proposed splitting chip production half-and-half between Taiwan and the United States. We could not find a named, on-the-record statement calling the US investment a “hollowing-out”.

“The idea that I pitched [Taiwan] was, let's get to 50-50.”

Howard Lutnick， US Secretary of Commerce
2025-09-28・NewsNation interview (reported by CNBC) ↗

台積電在開始談判以前，就已經去美國投資，現在連換來美方、川普的一封信都沒有，只有白宮片面發出的行政命令，讓全體國人非常擔心

Translation: TSMC had already invested in the United States before the negotiations began, and now it has not received so much as a letter from the US side or from Trump in return, only an executive order issued unilaterally by the White House, which worries the whole country.

Huang Kuo-chang， chairman of the Taiwan People’s Party
2025-08-06・responding to the US claim that TSMC would invest further in the United States (reported by Storm Media) (paraphrase, not a verbatim quote) ↗

不管是台積電或其他產業，只要他的研發中心、先進製程、最大產量在台灣，台灣就能夠持續穩定的發展

Translation: Whether it is TSMC or any other industry, as long as its R&D centre, its most advanced processes and its largest output are in Taiwan, Taiwan can keep developing steadily.

Lai Ching-te， President
2026-02-13・press conference after a high-level national security meeting (reported by TVBS) (paraphrase, not a verbatim quote) ↗

「所以台灣的計畫不只不會受影響，還要加速進行」

Translation: So the plans in Taiwan will not only be unaffected, they will be accelerated.

C.C. Wei， chairman and CEO of TSMC
2025-03-06・press conference at the Presidential Office (PTS News) ↗

US$165 billion TSMC’s cumulative planned investment in Arizona: US$165 billion (announced 2025-03-04; planned total) ↗
44% → 40% Taiwan’s share of global foundry capacity: 2024 and 2027 projection (TrendForce, May 2024) ↗

How are traditional industries and small firms faring outside the AI boom?

According to the Ministry of Economic Affairs’ white-paper release, Taiwan had more than 1.715 million small and medium-sized enterprises in 2024, employing about 9.194 million people. In the same year traditional manufacturing’s share of manufacturing output fell to 53.7%.

「當前傳統製造業則面臨中國大陸低價傾銷及美國關稅政策等嚴峻挑戰，導致出口及產值等表現與電子資通訊製造業出現分歧走勢」

Translation: Traditional manufacturing now faces severe challenges including low-price dumping from mainland China and US tariff policy, so that its exports and output have diverged from those of electronics and ICT manufacturing.

Central Bank of the Republic of China (Taiwan)， monetary authority
2026-06-18・post-board-meeting briefing paper “A Study of Taiwan’s Current Industrial Development” ↗

2025 年工具機出口產值滑落 10%，但同期進口設備卻成長 16%，對產業是一項警訊

Translation: Machine-tool export value fell 10% in 2025 while imports of equipment rose 16% over the same period, a warning sign for the industry.

陳紳騰， chairman, Taiwan Machine Tool & Accessory Builders’ Association
2026-01-20・machine-tool outlook press conference (reported by TechNews) (paraphrase, not a verbatim quote) ↗

「台灣多數傳統製造業並未出現萎縮或競爭力下滑的疑慮，而持續投入研發經費與增購機器設備，積極朝生產製程優化與產品高值化轉型」

Translation: Most of Taiwan’s traditional manufacturing shows no sign of shrinking or losing competitiveness; it keeps investing in R&D and buying machinery, actively moving towards better production processes and higher-value products.

Central Bank of the Republic of China (Taiwan)， monetary authority
2026-06-18・post-board-meeting briefing paper “A Study of Taiwan’s Current Industrial Development” ↗

「預計於未來8年內，由政府加碼投入1,000億元預算撥入「中小微企業轉型升級發展基金」，建立長期、穩定且具制度性的支持體系。」

Translation: Over the next eight years the government plans to put an additional NT$100 billion into a “Transformation and Upgrading Fund for Small, Medium and Micro Enterprises”, to build a long-term, stable and institutional system of support.

Small and Medium Enterprise and Startup Administration, MOEA， authority for small and medium enterprises
2026-09-10・press release on a special report to the Executive Yuan Council ↗

NT$12.36T → 13.74T Traditional manufacturing output, 2017 and 2024 (NT$ trillion); electronics and ICT manufacturing went from 7.35 to 11.84 over the same period (central bank compilation) ↗
1.715 million Number of SMEs in 2024: more than 1.715 million (MOEA white-paper release) ↗

The quotations are excerpts from longer documents or remarks; follow the source link for the full context. Where no named public statement could be found for a position, we have not written one on its behalf.

The cards are in hand, and the problems are on the table.

Strengths, sticking points, and what is already scheduled

All three columns contain only facts that appear earlier on this page or have an official source. The third lists announced plans and timetables only; it makes no forecast.

Strengths

Scale in chip manufacturing: IC industry output of NT$6.52 trillion in 2025, of which foundry was NT$4.17 trillion. ↑
Most leading-edge capacity is in Taiwan: TrendForce put Taiwan at 66% of global capacity at 16/14 nanometres and below in 2024. ↗
Everything from chip to finished system is made here: ICT and audio-video products were 39.2% of 2025 exports and electronic components 34.7%. ↑
The three science parks made NT$5.80 trillion in 2025 with 340,000 employees, and new bases are still being approved. ↑
The economy as a whole has grown with it: 8.76% in 2025 by DGBAS figures. ↗

Sticking points

Exports are concentrated in one kind of product and one market: 74% electronic components and ICT products in 2025, and 31% sold to the United States. ↑
Market value is concentrated in one company: TSMC is 38% of the listed market, and electronics is 76% of the TWSE index by weight. ↑
Power: the Energy Administration projects electricity demand to grow 2.5% a year from 2026 to 2035, twice the pace of the past decade. ↗
Traditional manufacturing is shrinking in weight: from 62.7% of manufacturing output in 2017 to 53.7% in 2024 (central bank compilation). ↗
It is concentrated geographically too: three-quarters of factory revenue is in six counties and cities. ↑
The leading-edge share is projected to fall: TrendForce expects Taiwan’s share of capacity at 16/14 nanometres and below to drop from 66% to 55% by 2027. ↗

Already scheduled

TSMC Arizona: cumulative planned investment of US$165 billion (announced March 2025). The annual report expects the second fab to enter volume production in the second half of 2027. ↗
TSMC Kumamoto: construction of the second fab began in 2025; the annual report says it is planned for 3-nanometre technology. ↗
The tax incentives have an end date: most R&D and equipment credits in the Statute for Industrial Innovation apply until 31 December 2029. ↗
The US Section 232 semiconductor investigation: phase one was proclaimed in January 2026; phase two has no official outcome yet. The Executive Yuan says the Taiwan–US agreement secures most-favoured treatment for Taiwan, with no specific rate announced. ↗
Science parks keep moving south: the Southern park’s Pingtung and Chiayi bases were approved in 2022, Nanzih in 2023 and Shalun in December 2025. ↗
Small firms: the Executive Yuan’s September 2026 plan is to add NT$100 billion over eight years to a transformation and upgrading fund. ↗
TSMC’s renewable-energy targets: 60% by 2030 and 100% by 2040; the 2025 figure was 20.1%. ↗

Dates and amounts in the third column are the plans as announced and may change.

Sort the table yourself, trace the chain yourself, take the numbers with you.

The ranking, the supply chains, the timeline and the data file are all there to be used

Tool

Top fifty by market cap

Sort by market cap, revenue, employees or founding year; filter by TWSE industry and headquarters county.

Open the ranking → Tool

Supply-chain maps

Semiconductors, AI servers and tungsten: link by link, which companies are in Taiwan and which link is imported.

See the three chains → Tool

Industry timeline

From the 1950s to 2026 on four tracks, policy, companies, capital market, international, viewable separately.

Open the timeline → Tool

Data download

Every series on this page with its unit, source URL and access date, in one JSON file. CC BY-SA 4.0.

Download JSON →

Every related article on the site

Institutions and history

Water, power and park surroundings

People

Sources

Official statistics come first. Each series in the data file carries its source URL, period and access date; verbatim excerpts kept during research are in the repository’s research files. Where data could not be obtained the page says so; nothing is estimated.

財政部統計處：財政部統計資料庫貨品別貿易值－按主要貨品別－出口（百萬美元）；貨品別貿易值結構比－按主要貨品別－出口（accessed 2026-11-10）
Council for Economic Planning and Development, R.O.C.（國發會前身經建會）；PDF 取自 taiwan-database.net 鏡像：Taiwan Statistical Data Book 2002, Table 11-7 Composition of Exports（p.216）（accessed 2026-11-10）
行政院主計總處：國民所得統計常用資料：國內各業生產毛額（名目）（accessed 2026-11-10）
行政院主計總處：國民所得統計：國內各業生產毛額（年資料，按行業細分）（accessed 2026-11-10）
行政院主計總處：國民所得統計及國內經濟情勢展望(新聞稿) （accessed 2026-11-10）
國家科學及技術委員會統計資料庫（科學園區常用統計表）：Ｃ－４產業營業額統計表（按統計期間加總）（accessed 2026-11-10）
經濟部統計處：113年工廠校正及營運調查報告表1-3 各縣市歷年統計表─按工廠家數、年底從業員工數、全年營業收入、新增固定資產分（accessed 2026-11-10）
台灣半導體產業協會(TSIA)；數據：工研院產科國際所：台灣 IC 產業營運成果（各年新聞稿）（accessed 2026-11-10）
臺灣證券交易所 OpenAPI：上市個股日收盤價（STOCK_DAY_ALL）與公司基本資料（t187ap03_L）（accessed 2026-10-23）
證券櫃檯買賣中心 OpenAPI：上櫃個股日收盤行情與公司基本資料（accessed 2026-10-23）
臺灣證券交易所：外資及陸資投資持股統計（發行股數）與每日收盤行情，逐年年底（accessed 2026-11-10）

Data file generated 2026-11-10

Taiwan’s Industries

In under forty years, exports went from nine-tenths farm goods to 95% industrial goods

Export structure 1952–1990: farm and processed farm goods fell from 92% to 4.5%

Farming funds industry, then exports 1953–1969

Heavy industry, the Ten Projects and the start of electronics 1970–1989

Science parks expand; global division of labour 1990–2009

The innovation statute; semiconductors become the trunk 2010–2021

AI servers, tariffs and fabs abroad 2022–2026

The state first supplied land, tax breaks and technology; the capital market then scaled it up

Industrial policy: pick the field, supply the technology

Parks: land, utilities and a single window

Tax incentives: three statutes in relay for over sixty years

Capital market: four boards for companies of different sizes

The three science parks made NT$5.80T in 2025; the Southern park has overtaken Hsinchu

In 2025, three of every four export dollars were electronics

Export shares 2001 → 2025: ICT and audio-video products went from 24.8% to 39.2%, overtaking electronic components

In 2025 the United States took 31.0% of exports, more than China and Hong Kong’s 26.6%

Industry as a share of GDP: 44.7% in 1985, 30.9% in 2000, back to 43.5% in 2025

Electronic-components manufacturing as a share of GDP: 4.5% in 2001, 17.2% in 2024

Taiwan’s IC industry produced NT$6.5 trillion in 2025; foundry was 64% of it

Taiwan IC industry output: NT$6.52T in 2025, 3.7 times the level of fifteen years earlier

Semiconductors

Silicon IP and design services

IC design

Wafer materials

Wafer foundry

Memory

Equipment and facilities

Packaging and testing

Test interfaces

AI servers

GPU/ASIC design services

Wafer foundry and advanced packaging

ABF substrates, PCBs, and copper-clad laminates

Cooling

Power

Chassis and slide rails

Cables and connectors

Complete system and rack assembly (ODM)

Tungsten

Tungsten ore and concentrate (mining)

Recycling and refining: sodium tungstate, APT, tungsten oxide

Tungsten powder and tungsten carbide powder

Cemented carbide cutting tools

Tungsten hexafluoride (WF6) for semiconductors

Tungsten sputtering targets

One company is 38% of the listed market; the top fifty together are 76%

What the listed market is made of (close of 2026-10-22)

Of the top fifty, the TWSE classifies 11 as semiconductors; they hold 64% of the list’s market cap

TSMC’s share of TWSE market cap: 9.9% at the end of 2005, 42.6% at the end of 2025

Taoyuan has the highest factory revenue; Kaohsiung is second

Factory revenue by county, 2024: Taoyuan leads with NT$4.48T

A few clusters with an official source

Hsinchu: integrated circuits

Tainan: leading-edge chips and display panels

Kaohsiung (Luzhu): semiconductor materials

Taichung (Dadu Mountain): precision machinery

Changhua (Lukang, Hemei): taps and bathroom hardware

Kaohsiung (Gangshan, Luzhu): screws and fasteners

Yunlin (Mailiao): petrochemicals

Six debates, each side in its own words

Is the chip industry a “sacred mountain” protecting the country, or has it given Taiwan “Dutch disease”?

Is the concentration of industry and the stock market in electronics a risk, or the result of specialisation?

How should the water and power used by chip fabs be weighed against households, farming and decarbonisation?

Have the high wages in tech reached people in other industries?

Is building fabs abroad an extension of strength, or a sharing-out of the “silicon shield”?

How are traditional industries and small firms faring outside the AI boom?

Strengths, sticking points, and what is already scheduled

Strengths

Sticking points

Already scheduled

The ranking, the supply chains, the timeline and the data file are all there to be used

Top fifty by market cap

Supply-chain maps

Industry timeline

Data download

Every related article on the site

Companies

Industries

Institutions and history