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 July 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.

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Taiwan GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
8.92 5.09 17.26 -7.88 1962 - 2021 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2021-01-29 08:00 AM YoY Adv Q4 4.94% 3.92% 3.61% 3.4%
2021-02-20 08:00 AM YoY Final Q4 5.09% 4.26% 4.94% 4.94%
2021-04-30 08:00 AM YoY Adv Q1 8.16% 5.09% 6.1% 4.5%
2021-06-04 08:00 AM YoY Final Q1 8.92% 5.09% 8.16%
2021-07-30 08:00 AM YoY Adv Q2 8.92% 6.05% 7.2%
2021-08-14 08:30 AM YoY Final Q2 8.92%
2021-10-30 08:00 AM YoY Adv Q3
2021-11-27 08:00 AM YoY Final Q3
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Taiwan Economic Growth Revised Higher in Q1
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.
2021-06-04
Taiwan GDP Grows at Fastest Pace in Over 10 Years
The Taiwanese economy expanded 8.16 percent year-on-year in the first quarter of 2021, following a 5.09 percent growth in the prior period and above market consensus of 6.1 percent, preliminary estimates showed. It is the fastest growth since the third quarter of 2010, bolstered by a jump in net external demand, as exports surged 19.57 percent (vs 5.67 percent in Q4), amid strong foreign demand for parts of electronic products and information, communication and audio-video products, while imports jumped 14.63 percent (vs -2.90 percent). Also, gross capital formation (8.29 percent vs -0.95 percent) and private spending (2.08 percent vs -1.07 percent) made solid rebounds, while government spending eased slightly (4.32 percent vs 4.37 percent).
2021-04-30
Taiwan Q4 GDP Annual Growth Revised Higher
The Taiwanese economy expanded 5.09% yoy in Q4 2020, compared with the preliminary figure of a 4.94% advance and after an upwardly revised 4.26% expansion in Q3. This was the strongest pace of growth since Q1 2011, as the economy recovered further from the COVID-19 shocks. Government spending growth accelerated (4.37% vs 3.52% in Q3) and gross capital formation increased further (2.96% vs 6.12%). In addition, private consumption shrank less (-1.07% vs -1.55%). At the same time, exports rose faster (5.67% vs 3.33%), amid strong foreign demand for parts of electronic products and information, communication, and audio-video products. Meanwhile, imports fell further (-2.9% vs -3.6%). For full 2020, the GDP was revised up to 3.11% from an earlier forecast of 2.08%. In 2021, the economy is expected to grow by 4.64%, higher than a prior forecast of 3.83% on a strong rebound in exports.
2021-02-20
Taiwan GDP Growth Strongest since 2011
The Taiwanese economy expanded 4.94% year-on-year in the last three months of 2020, the strongest growth rate since the first quarter of 2011, preliminary estimates showed. Exports jumped 5.7%, amid strong foreign demand for parts of electronic products and information, communication and audio-video products. Also, government consumption rose 4.77 percent and private spending shrank less (-1.1%) while gross capital formation contracted 1.4%. Considering full 2020, the economy expanded 2.98 percent, the same as 2.96 percent in 2019.
2021-01-29

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).