TAIPEI (Taiwan News) — Taiwan’s gender income gap narrowed to a three-year low in 2023, with men earning 1.57 times more than women, according to Ministry of Finance data published Monday.

Men had an average annual income of NT$746,708 (US$25,100), while women earned NT$475,454, per CNA. The income ratio fell from 1.6 in 2022, showing progress toward income equality, per Liberty Times.

The widest gap appeared in business income, where men earned nearly double that of women — NT$219,194 compared to NT$117,716. The gap in salary income was narrower, at a ratio of 1.41, with men averaging NT$822,709 and women NT$582,463.

For dividend income, the disparity was 1.68 times, although more women (3.9 million) than men (3.36 million) received dividends. Despite their greater participation, men earned significantly more, a gap attributed to their dominance in high-level corporate roles.

Retirement income was the only category in which women out-earned men, averaging NT$594,452 versus NT$537,333 for men.

The ministry also reported a record high for women in corporate leadership. Among companies with paid-in capital over NT$1 billion, 15.4% were led by women in 2024.

In government-backed lending, men still dominated. Youth home loans were split 54% male to 46% female, while men accounted for nearly 70% of youth entrepreneurship loans.