Markets Actual Q4 Q1 Q2 Q3 2021
Currency 28.50 28.59 28.67 28.76 28.84 29.01
Stock Market (points) 13867.09 13591 13321 13056 12795 12274
Government Bond 10y (%) 0.27 0.21 0.21 0.22 0.22 0.23

Overview Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) 3.91 0.2 1.5 0.2 0.3 0.5
GDP Annual Growth Rate (%) 3.92 3.4 4.5 6 3.2 3.4
Unemployment Rate (%) 3.77 3.8 3.8 3.7 3.7 3.7
Inflation Rate (%) -0.24 -0.3 0.5 1 1.6 1.5
Interest Rate (%) 1.13 1.13 1.13 1.13 1.25 1.25
Balance of Trade (USD Million) 7463.31 4400 4000 3950 2500 2000
Current Account (USD Million) 28651.00 18228 18228 17921 19500 19550
Current Account to GDP (%) 10.50 8.5 9.5 9.5 9.5 9.5
Government Debt to GDP (%) 28.20 32.5 33.5 33.5 33.5 33.5
Government Budget (% of GDP) -1.30 -4.5 -3.5 -3.5 -3.5 -3.5
Manufacturing PMI (points) 55.10 52.1 51 50 53 51
Consumer Confidence (points) 72.90 70 73 80 83 85
Retail Sales Mom (%) 9.50 1.5 2.2 4.5 4 4.5
Corporate Tax Rate (%) 20.00 17 20 20 20 17
Personal Income Tax Rate (%) 40.00 40 40 40 40 40

GDP Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) 3.91 0.2 1.5 0.2 0.3 0.5
GDP Annual Growth Rate (%) 3.92 3.4 4.5 6 3.2 3.4
GDP (USD Billion) 605.00 580 615 615 615 615
GDP Constant Prices (TWD Million) 5003761.00 5037385 5067944 5104325 5163881 5208656
Gross National Product (TWD Million) 5234913.00 5257344 4918833 5144920 5402430 5436094
Gross Fixed Capital Formation (TWD Million) 1135879.00 1212553 1116594 1167124 1172227 1253780
GDP From Agriculture (TWD Million) 81399.00 106843 93535 99869 84004 110476
GDP From Construction (TWD Million) 124906.00 105164 119469 124895 128903 108740
GDP From Manufacturing (TWD Million) 1769649.00 1692562 1538608 1655831 1826278 1750109
GDP From Mining (TWD Million) 2952.00 3755 2959 3150 3046 3883
GDP From Public Administration (TWD Million) 279375.00 267224 290667 295732 288315 276309
GDP From Services (TWD Million) 2991918.00 3216922 3032738 3004318 3087659 3326297
GDP From Transport (TWD Million) 118774.00 153553 135946 112760 122575 158774
GDP From Utilities (TWD Million) 85794.00 82490 76332 77951 88539 85295

Labour Actual Q4 Q1 Q2 Q3 2021
Unemployment Rate (%) 3.77 3.8 3.8 3.7 3.7 3.7
Unemployed Persons (Thousand ) 451.00 450 440 440 435 435
Labor Force Participation Rate (%) 59.09 59 59 59.1 59.1 59.1
Labour Costs (points) 85.09 109 109 109 109 109
Minimum Wages (TWD/Month) 23800.00 23800 24500 24500 24500 24500
Wages in Manufacturing (TWD/Month) 50469.00 51500 51900 52000 52000 52000
Population (Million) 23.60 23.6 23.61 23.61 23.61 23.61
Youth Unemployment Rate (%) 12.39 12.8 13 12.5 12.3 12.5
Wages (TWD/Month) 50512.00 51900 52100 52000 52800 53000

Prices Actual Q4 Q1 Q2 Q3 2021
Inflation Rate (%) -0.24 -0.3 0.5 1 1.6 1.5
Consumer Price Index CPI (points) 102.77 102 102 103 104 104
Core Consumer Prices (points) 103.62 105 103 103 104 107
Core Inflation Rate (%) 0.53 0.5 0.8 1.2 0.6 1
Producer Prices (points) 93.08 117 96.06 96.84 98.64 126
Food Inflation (%) -0.28 1 1.5 2.1 1.8 2
Inflation Rate Mom (%) -0.08 0.3 0.2 0.4 0.3 0.3
Producer Prices Change (%) -7.37 -3.5 -3.5 6.5 7.5 6
CPI Housing Utilities (points) 102.40 102 103 104 105 103
CPI Transportation (points) 99.10 101 98.86 98.08 99.91 103

Money Actual Q4 Q1 Q2 Q3 2021
Interest Rate (%) 1.13 1.13 1.13 1.13 1.25 1.25
Interbank Rate (%) 0.48 0.67 0.49 0.49 0.49 0.67
Money Supply M2 (TWD Million) 48691517.00 48926228 49650875 50375522 51100170 51824817
Banks Balance Sheet (TWD Million) 48605177.00 48905494 49664191 50422889 51181586 51940284
Foreign Exchange Reserves (USD HML) 5012.40 5051 5113 5176 5238 5301
Loans to Private Sector (TWD Million) 12614388.00 12285916 12615872 13014266 12960827 12703637
Loan Growth (%) 6.50 5.8 5.5 3.5 4 5
Central Bank Balance Sheet (TWD Million) 17321337.00 17556520 18027548 18498575 18969603 19440630

Trade Actual Q4 Q1 Q2 Q3 2021
Balance of Trade (USD Million) 7463.31 4400 4000 3950 2500 2000
Current Account (USD Million) 28651.00 18228 18228 17921 19500 19550
Current Account to GDP (%) 10.50 8.5 9.5 9.5 9.5 9.5
Imports (USD Million) 24768.54 23500 23500 24550 25500 26500
Exports (USD Million) 32231.85 27900 27500 28500 28000 28500
External Debt (USD Million) 190813.00 219000 197000 193500 189000 199000
Tourist Arrivals (Thousand) 18.98 80 110 620 880 1090
Gold Reserves (Tonnes) 423.63 423 423 423 423 423
Foreign Direct Investment (USD Million) 991.05 550 550 1000 970 950

Government Actual Q4 Q1 Q2 Q3 2021
Government Debt to GDP (%) 28.20 32.5 33.5 33.5 33.5 33.5
Government Budget (% of GDP) -1.30 -4.5 -3.5 -3.5 -3.5 -3.5
Government Spending (TWD Million) 675140.00 669178 687194 688791 696744 691930
Government Revenues (TWD Billion) 2942.28 2950 2950 2875 2875 2875
Fiscal Expenditure (TWD Billion) 3075.80 3100 3350 3350 3350 3350
Military Expenditure (USD Million) 10458.00 10000 10500 10500 10500 10500

Taxes Actual Q4 Q1 Q2 Q3 2021
Corporate Tax Rate (%) 20.00 17 20 20 20 17
Personal Income Tax Rate (%) 40.00 40 40 40 40 40
Sales Tax Rate (%) 5.00 5 5 5 5 5
Social Security Rate (%) 14.02 14.02 14.02 14.02 14.02 14.02
Social Security Rate For Companies (%) 10.87 11 11 11 11 11
Social Security Rate For Employees (%) 3.15 3.2 3.2 3.2 3.2 3.2

Business Actual Q4 Q1 Q2 Q3 2021
Manufacturing PMI (points) 55.10 52.1 51 50 53 51
Industrial Production (%) 7.06 2.5 1.5 3.3 3.1 2
Industrial Production Mom (%) -1.40 0.8 0.3 2.5 1.5 0.8
Manufacturing Production (%) 7.63 2.5 2.5 4.4 4.4 3
New Orders (USD Million) 51590.00 44500 41900 42750 44500 45000
Changes in Inventories (TWD Million) -60697.00 45100 35000 30300 27500 25500
Car Production (Units) 21605.00 15800 17800 18500 19700 20000
Car Registrations (Thousand) 22291.01 22150 22150 22150 22500 22300
Leading Economic Index (points) 122.90 113 113 115 116 115
Steel Production (Thousand Tonnes) 1660.00 1780 1780 1850 1810 1900
Coincident Index (points) 118.65 109 111 111 113 113

Consumer Actual Q4 Q1 Q2 Q3 2021
Consumer Confidence (points) 72.90 70 73 80 83 85
Retail Sales Mom (%) 9.50 1.5 2.2 4.5 4 4.5
Retail Sales YoY (%) 3.26 2.5 3.3 4.6 3 2
Consumer Spending (TWD Million) 2383002.00 2537084 2493866 2456081 2459258 2623345
Disposable Personal Income (TWD Million) 9256300.00 9571014 9672834 9811678 9552502 9896429
Consumer Credit (TWD Million) 9358307.00 9071666 9260417 9620216 9586104 9380102
Bank Lending Rate (%) 2.44 2.64 2.45 2.45 2.45 2.64

Housing Actual Q4 Q1 Q2 Q3 2021
Housing Index (points) 311.23 310 310 311 313 315


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.