Since the 1990s, Taiwan's defence spending has been at a surprisingly low level, given its geopolitical and security situation. However, this trend is ending due to Chinese military spending and aggression.
Here is some reading:
https://www.taipeitimes.com/News/taiwan/archives/2022/08/10/2003783290
https://digital.lib.washington.edu/researchworks/handle/1773/46343
This question will resolve based on SIPRI's data FOR 2025. Likely there will be a delay of up to a year between closing and resolution.
I have pulled current data from the SIPRI database: here are charts for spending as a percentage of GDP and in real ('21) dollar terms. I've included a range of relevant countries for context and comparison. The numbers for Taiwan are also separately tabulated.
