In the third quarter, gross domestic product rose 9.8% over the same period last year. The reading was well below the 12.9% expansion recorded in the second quarter (previously reported: +12.5% year-on-year) but exceeded market expectations, which had anticipated the economy would expand 8.3%. The robust third quarter expansion mainly reflected solid growth in investment and exports. Private consumption accelerated slightly from a 4.3% annual increase in the second quarter to a 4.5% expansion. Gross fixed capital formation expanded a buoyant 23.7% in the third quarter (Q2: +32.0% yoy). On the external side of the economy, exports of goods and services grew 20.1% (Q2: +32.9% yoy), while imports expanded 22.8% (Q2: +34.0% yoy). As a result, the net contribution from the external sector to overall growth diminished from a 3.9 percentage-point contribution in the second quarter to a 1.4 percentage-point contribution in the third. A quarter-on-quarter comparison does not corroborate the strong growth suggested by the annual figures, as the economy remained flat over the previous quarter in seasonally adjusted terms (Q2: +0.5% quarter-on-quarter). Owing to the modest performance of the global economy, the government expects economic growth to moderate from 9.9% this year to 4.5% in 2011.
Economic growth remains robust in Q3
November 18, 2010
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Taiwan Economic News
October 9, 2016
In September, the trade surplus totaled USD 4.4 billion, according to data from the Ministry of Finance.
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.
October 3, 2016
Taiwanese manufacturers registered better business conditions for the fourth consecutive month in September.
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.
September 27, 2016
Taiwan’s industrial output increased substantially in August, backed by a base effect but also due to strong growth in semiconductor manufacturers’ output, which benefited from the debut of Apple’s latest iPhone model.