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.