Taiwan’s economy shrank 0.86 percent year-on-year in the fourth quarter of 2022, below the market forecasts of a 1.3 percent rise and following a 4.01 percent growth in the previous three-month period, according to preliminary figures. It was the first contraction since Q1 of 2016, as trade got hit by subdued external demand. Both exports (-5.09 percent vs 2.75 percent) and imports (-1.61 percent vs 2.3 percent) declined. Also, softer increases were seen in private consumption (2.89 percent vs 6.95 percent) and gross capital formation (0.03 percent vs 0.31 percent). Meanwhile, government spending increased faster (3.14 percent vs 2.12 percent). On a seasonally adjusted quarterly basis, the economy declined 1.08 percent, shifting from 1.83 percent growth in the previous three-month period. Considering the full 2022, the economy advanced by 2.43%, the least since 2016. source: National Statistics, Republic of China
GDP Annual Growth Rate in Taiwan averaged 7.09 percent from 1962 until 2022, 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 January of 2023.
GDP Annual Growth Rate in Taiwan is expected to be 1.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Taiwan GDP Annual Growth Rate is projected to trend around 3.30 percent in 2024, according to our econometric models.