The economy of Taiwan expanded 8.92 percent year-on-year in the quarter ending March of 2021, faster than early estimates of an 8.16 percent advance and followed an upwardly revised 5.15 percent growth in the previous quarter. It was the fastest expansion since the third quarter of 2010, bolstered by a surge in net external demand, as exports jumped 21.31 percent (vs 7.63 percent in 4Q 2020), mainly driven by sales of electronic parts, information, communication, and audio-video products; while imports rose a slower 15.54 percent (vs -0.62 percent). Output was also lifted by a faster expansion in gross capital formation (11.92 percent vs 1.33 percent) a strong rebound in consumer spending (2.11 percent vs -1.25 percent), and continued support from public expenditure (4.28 percent vs 4.01 percent). Looking ahead, the economy is forecasted to advance by 5.46 percent in 2021, faster than an upwardly revised 3.12 percent in the previous year. source: National Statistics, Republic of China
GDP Annual Growth Rate in Taiwan averaged 7.18 percent from 1962 until 2021, 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. Taiwan GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2021.
GDP Annual Growth Rate in Taiwan is expected to be 4.90 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 3.50 in 12 months time. In the long-term, the Taiwan GDP Annual Growth Rate is projected to trend around 2.60 percent in 2022 and 2.00 percent in 2023, according to our econometric models.