Taiwan GDP


Economy accelerates in Q2

In the second quarter, GDP rose 2.5% over the same period last year, according to the advance estimate released on 16 August. The reading came in well above both the revised 1.6% expansion recorded in the first quarter (previously reported: +1.5%) and market expectations of a 2.3% increase.

The performance in the second quarter was the result of sharp improvement in both private consumption and the external sector. Private consumption expanded 1.7% (Q1: +0.3% year-on-year), whereas public spending contracted 0.2% (Q1: +1.3% yoy). Gross fixed investment decelerated from a revised 6.3% expansion in Q1 to a 3.8% rise in Q2.

On the external side of the economy, exports of goods and services grew 5.2% (Q1: +5.0% yoy) while imports expanded a softer 3.2% (Q1: +6.7% yoy). As a result, the net contribution to overall growth by the external sector improved from a flat rate in Q1 to a 2.1 percentage-point contribution in Q2.

On a quarterly basis, GDP rose 0.6% over the previous period in seasonally adjusted terms, which contrasted the 0.6% contraction observed in the first quarter.

The government sees GDP expanding 2.3% in 2013 and 3.4% in 2014. FocusEconomics Consensus Forecast panellists project GDP to grow 3.5% this year, which is unchanged from last month's forecast. For 2014, the panel estimates that economic activity will increase 4.0%.


Sample Report

Looking for forecasts related to GDP in Taiwan? Download a sample report now.


Taiwan GDP Chart

Taiwan GDP Q2 2013

Note: Year-on-year changes of GDP in %.
Source: Directorate-General of Budget, Accounting and Statistics and FocusEconomics Consensus Forecast.

Taiwan Economic News

  • Taiwan: Exports fall and trade surplus narrows in September

    October 9, 2016

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

    Read more

  • 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.

    Read more

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

    October 3, 2016

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

    Read more

  • 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.

    Read more

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

    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.

    Read more

More news

Search form