This page has economic forecasts for Taiwan including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Taiwan economy.


Overview Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 0.48 0.7 0.9 1.1 0.8 0.6 percent
Unemployment Rate 3.70 3.7 3.7 3.8 3.8 3.8 percent
Inflation Rate 1.17 1.5 1.4 1.6 1.8 1.8 percent
Interest Rate 1.38 1.38 1.38 1.5 1.5 2 percent
Balance of Trade 3356.10 3800 3400 2500 2800 3400 USD Million
Government Debt to GDP 31.20 32 33 33 33 34 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Currency 30.87
30.75 30.86 30.96 31.06 31.47
Stock Market 9826.46
points
10938 10825 10714 10603 10173
Government Bond 10y 0.92
percent
0.91 0.92 0.94 0.95 1.02
GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Growth Rate 0.48
percent
0.7 0.9 1.1 0.8 0.6
GDP Annual Growth Rate 2.28
percent
2.9 2.1 2.5 2.3 1.8
GDP 579.30
USD Billion
585 605 605 605 622
GDP Constant Prices 4158657.00
TWD Million
4266164 4233986 4262623 4254306 4438500
Gross National Product 4373254.00
TWD Million
4808852 4467570 4482585 4473839 5003111
Gross Fixed Capital Formation 916804.00
TWD Million
966450 908780 939724 937890 1005491
GDP From Agriculture 58251.00
TWD Million
64771 50498 59707 59591 67388
GDP From Construction 99398.00
TWD Million
83445 101078 101883 101684 86816
GDP From Manufacturing 1276214.00
TWD Million
1342668 1217920 1308119 1305567 1396906
GDP From Mining 3427.00
TWD Million
4015 3326 3513 3506 4177
GDP From Public Administration 270560.00
TWD Million
261743 274396 277324 276783 272316
GDP From Services 2626320.00
TWD Million
2840162 2691130 2691978 2686725 2954894
GDP From Transport 121171.00
TWD Million
127200 127935 124200 123958 132338
GDP From Utilities 29075.00
TWD Million
43031 30550 29802 29744 44769
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 3.70
percent
3.7 3.7 3.8 3.8 3.8
Employed Persons 11454.00
Thousand
11460 11470 11480 11490 11630
Unemployed Persons 440.00
Thousand
463 465 467 462 444
Labor Force Participation Rate 59.03
percent
59.2 59.2 59.2 59.3 59.8
Productivity 109.89
Index Points
114 114 103 108 120
Labour Costs 119.42
Index Points
96.8 128 109 103 109
Minimum Wages 22000.00
TWD/Month
22000 23200 23200 23200 24500
Wages in Manufacturing 49671.00
TWD/Month
47300 43200 45100 45900 49400
Population 23.57
Million
23.62 23.67 23.67 23.67 23.74
Youth Unemployment Rate 12.78
percent
12.7 11.4 11.2 11.8 13.2
Wages 49816.00
TWD/Month
49100 47400 48500 46500 50900
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 1.17
percent
1.5 1.4 1.6 1.8 1.8
Consumer Price Index CPI 102.65
Index Points
103 103 104 104 107
Core Consumer Prices 102.43
Index Points
103 104 105 104 106
Core Inflation Rate 0.72
percent
1.3 1.9 2.1 1.8 1.3
GDP Deflator 104.97
Index Points
107 110 106 105 106
Producer Prices 107.59
Index Points
108 108 112 114 123
Export Prices 102.09
Index Points
102 102 102 101 101
Import Prices 111.90
Index Points
110 111 111 111 112
Food Inflation 1.49
percent
0.8 1.1 1.2 1.7 2
Inflation Rate Mom -0.16
percent
0.5 0.1 -0.3 -0.1 0.3
CPI Housing Utilities 101.78
Index Points
102 102 104 105 106
CPI Transportation 104.83
Index Points
105 105 106 106 108
Producer Prices Change 5.95
percent
5.6 6.5 6.4 6.6 6.9
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate 1.38
percent
1.38 1.38 1.5 1.5 2
Interbank Rate 0.66
percent
0.67 0.67 0.79 0.79 1.29
Money Supply M0 1893581.00
TWD Million
1890000 1985000 1930000 1920000 1950000
Money Supply M1 6672200.00
TWD Million
6890000 6910000 6940000 6970000 7250000
Money Supply M2 43837395.00
TWD Million
44070000 44100000 44350000 44470000 47100000
Banks Balance Sheet 43363589.00
TWD Million
43800000 44000000 44200000 44350000 45550000
Foreign Exchange Reserves 4601.80
USD Hundred Million
4590 4630 4650 4670 4680
Loans to Private Sector 11278139.00
TWD Million
11500000 11750000 12200000 12700000 13500000
Central Bank Balance Sheet 16819116.00
TWD Million
17500000 17700000 17900000 18100000 19100000
Loan Growth 5.27
percent
4.7 5.3 5.1 4.5 5.8
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade 3356.10
USD Million
3800 3400 2500 2800 3400
Exports 29565.88
USD Million
28300 27000 26800 26100 22900
Imports 26209.73
USD Million
24500 23600 24300 23300 19500
Current Account 17820.00
USD Million
22500 21300 20800 19980 21140
Current Account to GDP 14.70
percent
13.9 13.5 13.5 13.5 13.2
External Debt 199051.00
USD Million
208000 211000 218000 222000 239000
Terms of Trade 91.20
Index Points
92.13 91.86 91.52 91.08 90.13
Capital Flows 14793.00
USD Million
15300 15800 16100 16300 17400
Tourist Arrivals 836.59
Thousand
880 900 920 950 890
Gold Reserves 423.60
Tonnes
424 424 424 424 424
Foreign Direct Investment 645.72
USD Million
870 890 920 940 910
Crude Oil Production 0.20
BBL/D/1K
0.19 0.19 0.19 0.19 0.19
Terrorism Index 0.50
0.2 0.5 0.17 0.17 0.5
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 31.20
percent
32 33 33 33 34
Government Budget -1.40
percent of GDP
-1.8 -2.1 -2.1 -2.1 -1.2
Government Budget Value -244.20
TWD Billion
-227 -300 -300 -300 -355
Government Spending 588658.00
TWD Million
599074 597409 603374 602197 623274
Government Revenues 2731.20
TWD Billion
2731 2800 2800 2800 2875
Fiscal Expenditure 2958.10
TWD Billion
2958 3100 3100 3100 3230
Military Expenditure 9874.90
USD Million
9800 9990 9990 9990 10000
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Manufacturing PMI 48.70
51.3 52 53 51.9 51
Industrial Production 1.54
percent
2.7 8.6 5.8 4.9 -1.1
Industrial Production Mom 2.25
percent
0.5 0.4 0.3 0.1 0.8
Manufacturing Production 2.00
percent
4.1 3.9 3.7 2.9 3.8
New Orders 47858.00
USD Million
41300 41500 41900 42050 44000
Changes in Inventories 10753.00
TWD Million
-14000 3220 11230 23300 16100
Bankruptcies 2599.00
Companies
2900 3320 3500 2850 2300
Car Production 19373.00
Units
22100 23600 23900 24500 23800
Car Registrations 21836.18
Thousand
21840 21875 21915 21950 22190
Leading Economic Index 111.40
Index Points
110 112 112 112 114
Internet Speed 16869.04
KBps
17800 17940 18000 18140 18770
IP Addresses 7115844.00
IP
7109000 7085000 7061000 7047000 6900000
Cement Production 850.36
Thousands of Tonnes
850 843 839 831 810
Coincident Index 110.94
Index Points
107 105 109 110 116
Competitiveness Index 79.25
Points
79.75 79.75 79.75 79.75 82.25
Competitiveness Rank 13.00
13 13 13 13 13
Ease Of Doing Business 13.00
14 12 12 12 11
Corruption Index 63.00
Points
63 63 63 63 63
Corruption Rank 29.00
29 29 29 29 29
Mining Production -10.00
percent
-7.8 -9.2 -13.4 -6.5 6.1
Steel Production 1925.00
Thousand Tonnes
1990 2010 1950 1915 1800
CONSUMER Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Consumer Confidence 81.95
Index Points
83.1 82.8 82.9 83.2 82.9
Retail Sales Mom -1.90
percent
0.3 -0.6 -1.5 -3.1 1.8
Retail Sales YoY 2.77
percent
3.9 3.6 4.9 4.4 4.9
Consumer Spending 2306965.00
TWD Million
2349299 2343412 2364639 2360025 2444201
Disposable Personal Income 8721300.00
TWD Million
8850000 9080000 9080000 9080000 9250000
Personal Savings 1774100.00
TWD Million
1820000 1895000 1895000 1895000 1936000
Consumer Credit 8175513.00
TWD Million
8166000 8183000 8196000 8210000 8990000
Bank Lending Rate 2.64
percent
2.64 2.64 2.76 2.76 3.26
HOUSING Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Housing Index 283.98
Index Points
290 293 295 298 315
Construction Output -15.27
percent
9.4 5.7 3.5 2.1 7.3
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Corporate Tax Rate 17.00
percent
17 17 17 17 17
Personal Income Tax Rate 45.00
percent
45 45 45 45 45
Sales Tax Rate 5.00
percent
5 5 5 5 5
Social Security Rate 14.02
percent
14.02 14.02 14.02 14.02 14.02
Social Security Rate For Companies 10.87
percent
11.2 11.2 11.2 11.2 12.5
Social Security Rate For Employees 3.15
percent
3.2 3.2 3.2 3.2 3.05
CLIMATE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Temperature 27.97
celsius
20.69 16.91 24.48 22.91 22.47



Taiwan - Economic Forecasts - 2018-2020 Outlook