Average annual incomes in Taiwan hit record highs in 2024

2024年台灣平均年所得將創歷史新高

TAIPEI (Taiwan News) — Taiwan’s average household income rose to record levels in 2024, reflecting steady economic growth, according to the Directorate-General of Budget, Accounting and Statistics (DGBAS).

The agency’s annual Household Income and Expenditure Survey found the average annual income per person was NT$729,000 (US$24,264), the highest ever recorded, CNA reported. Earners under 30 averaged NT$559,000 (US$18,605), up 2.5% from 2023.

The report said average disposable household income reached NT$1.165 million (US$38,775), a 2.5% increase over the previous year. Adjusted for household size, average individual disposable income was NT$419,000 (US$13,945), up 2.9% year-on-year.

Taiwan’s economic growth also pushed unemployment down to 3.38%. Increases in the minimum wage and a 4.84% growth rate in 2024 contributed to income gains across demographics.

Average incomes by age group were as follows: NT$727,000 for those aged 30–34, NT$818,000 for 35–39, NT$903,000 for 40–44, and NT$944,000 for the highest-earning group aged 45–54. Those aged 55–64 earned NT$832,000 on average, while people over 65 made NT$492,000, per CNA.