Cityscape at night in Taiwan

Taiwan International Reserves (USD bn)

International Reserves in Taiwan

The economy contracted in quarter-on-quarter and year-on-year terms in Q1, sharply undershooting market expectations. Steep falls in investment, industrial production and exports explained the grim reading amid softening global demand for electronics—including for semiconductors, exports of which are worth around 25% of GDP. In contrast, private consumption grew robustly. Turning to Q2, our panelists see GDP returning to growth in sequential and annual terms. Private consumption should be benefitting from cash handouts to citizens in April, while recovering tourism will be boosting services exports. However, the industrial sector will likely stay subdued on weak overseas demand. Available data hints at this dual-speed panorama in Q2: While the non-manufacturing PMI accelerated in April, in the same month the manufacturing PMI fell and merchandise exports declined by double digits.

Taiwan International Reserves Chart

This chart displays International Reserves (USD) for Taiwan from 2013 to 2022.

Taiwan International Reserves Data

2017 2018 2019 2020 2021
International Reserves (USD bn) 452 462 478 530 548

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