Taiwan’s average wealth per household based on purchasing power parity (PPP) was US$798,000 at the end of 2020, the third highest compared to OECD countries, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said Monday.

Average wealth per household in Taiwan was NT$12.36 million (US$386,108) in 2020, up 5.1 percent from a year earlier, the DGBAS said, attributing the rise mainly to an increase in financial assets.

When valued based on PPP, however, average per household wealth in Taiwan was US$760,000 in 2019 and US$798,000 in 2020, it said.

According to the Organization for Economic Cooperation and Development (OECD), PPP reflects the absolute purchasing power of each countries’ currencies, and, to some extent, their people’s living standards.

Is provides a clearer view of the purchasing power of people in each country.

Taiwan’s 2019 average wealth per household on a PPP basis of US$760,000 was the third highest when compared with the OECD’s 38 member countries and three partners, trailing only Luxembourg’s US$941,000 and Switzerland’s US$862,000.

It was also much higher than the OECD’s median figure of US$255,000, the DGBAS noted.

The figure was also higher than South Korea’s US$362,000 and Japan’s US$295,000, according to the DGBAS.

Source: Focus Taiwan News Channel