Taiwan GDP


Economy returns to growth in Q3

In the third quarter, GDP rose 1.0% over the same period last year, according to the 31 October advance estimate. The reading contrasted the 0.2% contraction recorded in the second quarter but undershot market expectations of a 1.5% increase. The improvement over the previous quarter was driven by a recovery in investment as well as by a larger contribution from the external sector. Private consumption expanded a meagre 0.4% (Q2: +0.8% year-on-year). On the other hand, gross investment - which includes changes in inventories - bounced back from a 7.7% contraction in the second quarter to a 1.2% expansion. As a result, domestic demand expanded 0.3% in Q3, contrasting the 1.0% contraction recorded in the previous period. On the external side of the economy, exports of goods and services grew 1.5% (Q2: -2.0% yoy) while imports expanded 0.6% (Q2: -3.7% yoy). As a result, the net contribution from the external sector to overall growth improved from 0.6 percentage points in Q2 to 0.8 percentage points in Q3. On a quarterly basis, GDP expanded 0.86% over the previous period in seasonally adjusted terms, which was above the 0.55% rise observed in the second quarter. More detailed data will be published on 23 November.


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Taiwan Economic News

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    October 9, 2016

    In September, the trade surplus totaled USD 4.4 billion, according to data from the Ministry of Finance.

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  • Taiwan: Inflation moderates further in September

    October 5, 2016

    In September, consumer prices increased 0.45% over the previous month, which was a rebound from the 0.03% fall recorded in August.

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  • Taiwan: Manufacturing PMI hits two-year high in September

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    Taiwanese manufacturers registered better business conditions for the fourth consecutive month in September.

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  • Taiwan: Central Bank halts easing cycle on healthy economic growth

    September 29, 2016

    At its quarterly monetary policy meeting on 29 September, the Central Bank of the Republic of China (Taiwan) decided to leave the discount rate unchanged at 1.375%, which was a decision that markets had expected, although some analysts had foreseen a further reduction to the key policy rate. The Central Bank has cut the main monetary policy rate four times since September 2015 by a total of 50 basis points and this time the authority decided to leave interest rates unchanged “against a back drop of moderate global growth and renewed momentum for the domestic economy, along with a mild inflation outlook for next year.” Regarding global developments and how they affect the Taiwanese economy, the Central Bank stated that the global economy continues to decelerate as a result of slower economic growth in the U.S., a still tepid recovery in the Eurozone economy and sluggish economic activity in Japan.

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  • Taiwan: Industrial production benefits from Apple’s new iPhone debut

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