Taiwan's economy advanced 3.38 percent year-on-year in the last quarter of 2019, after a 2.99 expansion in the previous period and beating market expectations of 2.78 percent, the advance estimate showed. It was the strongest growth rate in over a year, with private consumption growing faster (2.94 percent vs 2.28 percent in Q3) while fixed investment rebounded sharply (10.72 percent vs -0.87 percent). Regarding net trade, exports rose 2.33 percent (from 0.33 in Q3) while imports went up 4.26 percent (from -2.31 percent in Q3). On a seasonally adjusted quarterly basis, the economy grew 1.70 percent, following a 0.60 percent rise in the prior quarter. For the whole 2019, the GDP advanced 2.73 percent, slightly below 2.75 percent in the previous year. For 2020, it is projected to grow by 2.72 percent.

GDP Annual Growth Rate in Taiwan averaged 7.24 percent from 1962 until 2019, reaching an all time high of 17.26 percent in the third quarter of 1978 and a record low of -7.88 percent in the first quarter of 2009. This page provides - Taiwan GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP Annual Growth Rate in Taiwan is expected to be -0.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Taiwan to stand at 2.00 in 12 months time. In the long-term, the Taiwan GDP Annual Growth Rate is projected to trend around 2.50 percent in 2021 and 2.60 percent in 2022, according to our econometric models.


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Taiwan GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.38 2.99 17.26 -7.88 1962 - 2019 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2019-08-16 08:30 AM YoY Final Q2 2.4% 1.83% 2.41% 2.41%
2019-10-31 08:00 AM YoY Adv Q3 2.91% 2.40% 2.5% 2.3%
2019-11-29 09:00 AM YoY Final Q3 2.99% 2.6% 2.9%
2020-01-21 08:00 AM YoY Adv Q4 3.38% 2.99% 2.78% 3%
2020-02-21 08:00 AM YoY Final Q4 2.99% 3.3%
2020-04-30 08:00 AM YoY Adv Q1 -0.9%
2020-05-24 08:00 AM YoY Final Q1 -0.9%
2020-07-31 08:00 AM YoY Adv Q2 0.6%


News Stream
Taiwan Q4 GDP Growth Strongest in Over a Year
Taiwan's economy advanced 3.38 percent year-on-year in the last quarter of 2019, after a 2.99 expansion in the previous period and beating market expectations of 2.78 percent, the advance estimate showed. It was the strongest growth rate in over a year, with private consumption growing faster (2.94 percent vs 2.28 percent in Q3) while fixed investment rebounded sharply (10.72 percent vs -0.87 percent). Regarding net trade, exports rose 2.33 percent (from 0.33 in Q3) while imports went up 4.26 percent (from -2.31 percent in Q3). On a seasonally adjusted quarterly basis, the economy grew 1.70 percent, following a 0.60 percent rise in the prior quarter. For the whole 2019, the GDP advanced 2.73 percent, slightly below 2.75 percent in the previous year. For 2020, it is projected to grow by 2.72 percent.
2020-01-21
Taiwan GDP Growth Revised Up to 2.99%
Taiwan's economy advanced 2.99% yoy in Q3 2019, better than an advance estimate of 2.91%, and compared with an upwardly revised 2.6% growth in Q2. It is the strongest expansion since Q2 2018. Private spending increased 2.28% (1.96% in the advance estimate), mainly due to sales of cars and electric scooters. Government spending also increased faster than anticipated (3.77% compared to 3.68%). On the other hand, gross capital formation contracted by 0.87% (-1.01% in the advance estimate), mainly due to an adjustment in inventories and the high base effect of previous year. In addition, exports of goods and services grew by 0.33% (4.23% in the advance estimate) due to a change in computation to the BPM6. Considering 2019, the National Statistics expects the economy to grow 2.64%, higher by 0.18 percentage point from the forecast in August, as some manufacturing companies move back to the island to avoid higher tariffs. For 2020, Taiwan’s GDP is projected to advance by 2.72%.
2019-11-29
Taiwan Q3 GDP Growth Strongest in Over a Year
Taiwan's economy advanced 2.91 percent year-on-year in the third quarter of 2019, after a 2.40 expansion in the previous period and beating market expectations of 2.5 percent, the advance estimate showed. It was the strongest growth rate in over a year, boosted by a rebound in government expenditure (3.68 percent vs -2.66 percent in Q2); and private consumption grew by 1.96 percent (vs 1.55 percent in Q2), mainly reflecting the sales growth of cars and electric scooters, partly offset by the decrease in financial services. Meanwhile, fixed investment shrank by 1.01 percent (vs 5.90 percent in Q2), with a decline in inventory changes and a higher comparison base last year while machinery and equipment expenditure rose. Exports of goods and services increased by 4.23 percent (vs 4.13 percent in Q2), mostly driven by strong foreign demand for information, communication & audio-video, and parts of electronic products while imports rose a t a softer 2.17 percent (vs 3.68 percent).
2019-10-31
Taiwan Q2 GDP Growth Confirmed at 2.4%
Taiwan's annual economic growth stood at 2.40 percent in the second quarter of 2019, little-changed from a preliminary reading of 2.41 percent and above the previous period's 1.83 percent expansion. Private consumption grew by 1.55 percent (vs 1.46 percent in Q1), mainly reflecting the growing sales of cars and boutiques, as well as new opening department stores and retail outlets; and fixed investment rose by 7.51 percent (vs 6.85 percent in Q1), primarily due to the increase in machinery and equipments investment as well as transport equipments. In addition, exports of goods and services grew by 4.13 percent (vs 0.87 percent in Q1), mainly driven by the foreign strong demand for information, communication and audio-video products, as well as refined petroleum products. Imports also increased by 3.68 percent (vs 1.13 percent in Q1).
2019-08-16

Taiwan GDP Annual Growth Rate
Taiwan’s economy is export oriented. As such, manufacturing is crucial and accounts for around 31 percent of GDP. Like in most advanced economies, the services sector is the biggest and constitutes nearly 65 percent of GDP. Within services, the most important are wholesale and retail trade (17.3 percent of GDP); real estate (8 percent of GDP); and public administration and defense (6.4 percent of GDP).