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). 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 May 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.