Taiwan - Economic Forecasts - 2018-2020 Outlook

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	Q3/18	Q4/18	Q1/19	Q2/19	2020
GDP Growth Rate	0.80	0.6	0.7	0.9	1.1	0.6	percent
Unemployment Rate	3.69	3.7	3.7	3.7	3.8	4.1	percent
Inflation Rate	1.53	1.5	1.5	1.4	1.6	2.1	percent
Interest Rate	1.38	1.38	1.38	1.38	1.5	2	percent
Balance of Trade	4524.71	3100	3800	3400	2500	3400	USD Million
Government Debt to GDP	31.20	32	32	33	33	34	percent


MARKETS	Actual	Q3/18	Q4/18	Q1/19	Q2/19	2020
Currency	30.67	30.82	30.93	31.03	31.13	31.55
Stock Market	10972.41 points	10987	10876	10767	10658	10234
Government Bond 10y	0.87 percent	0.86	0.88	0.89	0.91	0.97

GDP	Actual	Q3/18	Q4/18	Q1/19	Q2/19	2020
GDP Growth Rate	0.80 percent	0.6	0.7	0.9	1.1	0.6
GDP Annual Growth Rate	3.30 percent	3	2.8	2.5	2.4	2.5
GDP	579.30 USD Billion	585	585	605	605	622
GDP Constant Prices	4158657.00 TWD Million	4163667	4262018	4250574	4258465	4464677
Gross National Product	4373254.00 TWD Million	4582149	4804179	4485073	4478212	5032618
Gross Fixed Capital Formation	916804.00 TWD Million	948914	965511	912340	938807	1011421
GDP From Agriculture	58251.00 TWD Million	45863	64708	50695	59649	67785
GDP From Construction	99398.00 TWD Million	101148	83364	101474	101784	87328
GDP From Manufacturing	1276214.00 TWD Million	1366919	1341363	1222692	1306843	1405145
GDP From Mining	3427.00 TWD Million	3316	4011	3339	3509	4202
GDP From Public Administration	270560.00 TWD Million	276668	261488	275471	277053	273922
GDP From Services	2626320.00 TWD Million	2640981	2837402	2701673	2689352	2972321
GDP From Transport	121171.00 TWD Million	120531	127076	128437	124079	133119
GDP From Utilities	29075.00 TWD Million	34229	42989	30670	29773	45033

LABOUR	Actual	Q3/18	Q4/18	Q1/19	Q2/19	2020
Unemployment Rate	3.69 percent	3.7	3.7	3.7	3.8	4.1
Employed Persons	11443.00 Thousand	11450	11460	11470	11480	11630
Unemployed Persons	453.00 Thousand	460	463	465	467	444
Labor Force Participation Rate	59.09 percent	59.1	59.2	59.2	59.2	59.8
Productivity	110.63 Index Points	107	114	114	103	120
Labour Costs	94.81 Index Points	95.3	96.8	128	109	109
Minimum Wages	22000.00 TWD/Month	22000	22000	23200	23200	24500
Wages in Manufacturing	58061.00 TWD/Month	45200	47300	43200	45100	49400
Population	23.57 Million	23.62	23.62	23.67	23.67	23.74
Youth Unemployment Rate	12.42 percent	12.5	12.7	11.4	11.2	13.2
Wages	51669.00 TWD/Month	46020	49100	47400	48500	50900

PRICES	Actual	Q3/18	Q4/18	Q1/19	Q2/19	2020
Inflation Rate	1.53 percent	1.5	1.5	1.4	1.6	2.1
Consumer Price Index CPI	102.39 Index Points	102	103	103	104	107
Core Consumer Prices	102.31 Index Points	102	103	104	105	106
Core Inflation Rate	1.36 percent	1.3	1.7	1.9	2.1	1.3
GDP Deflator	104.97 Index Points	106	107	110	106	106
Producer Prices	106.92 Index Points	109	110	110	114	127
Export Prices	101.99 Index Points	102	102	102	102	101
Import Prices	110.05 Index Points	110	110	111	111	112
Food Inflation	0.74 percent	0.5	0.8	1.1	1.2	2
Inflation Rate Mom	0.04 percent	-0.4	0.5	0.1	-0.3	0.3
CPI Housing Utilities	102.73 Index Points	104	102	102	104	107
CPI Transportation	105.30 Index Points	103	105	105	106	109
Producer Prices Change	6.83 percent	7.6	7.8	7.9	8.1	6.9

MONEY	Actual	Q3/18	Q4/18	Q1/19	Q2/19	2020
Interest Rate	1.38 percent	1.38	1.38	1.38	1.5	2
Interbank Rate	0.66 percent	0.67	0.67	0.67	0.79	1.29
Money Supply M0	1875387.00 TWD Million	1885000	1890000	1985000	1930000	1950000
Money Supply M1	6811500.00 TWD Million	6830000	6890000	6910000	6940000	7250000
Money Supply M2	43723364.00 TWD Million	43980000	44070000	44100000	44350000	47100000
Banks Balance Sheet	43273545.00 TWD Million	43500000	43800000	44000000	44200000	45550000
Foreign Exchange Reserves	4598.80 USD Hundred Million	4573	4590	4630	4650	4680
Loans to Private Sector	10971714.00 TWD Million	11000000	11500000	11750000	12200000	13500000
Central Bank Balance Sheet	16570848.00 TWD Million	17000000	17500000	17700000	17900000	19100000
Loan Growth	4.97 percent	4.4	4.7	5.3	5.1	5.8

TRADE	Actual	Q3/18	Q4/18	Q1/19	Q2/19	2020
Balance of Trade	4524.71 USD Million	3100	3800	3400	2500	3400
Exports	28295.50 USD Million	28000	28300	27000	26800	22900
Imports	23770.79 USD Million	24900	24500	23600	24300	19500
Current Account	17820.00 USD Million	21600	22500	21300	20800	21140
Current Account to GDP	14.70 percent	14.3	14.3	13.9	13.9	13.7
External Debt	199051.00 USD Million	204000	208000	211000	218000	239000
Terms of Trade	92.70 Index Points	92.65	92.13	91.86	91.52	90.13
Capital Flows	14793.00 USD Million	14500	15300	15800	16100	17400
Tourist Arrivals	853.35 Thousand	860	880	900	920	890
Gold Reserves	423.60 Tonnes	424	424	424	424	424
Foreign Direct Investment	551.50 USD Million	1000	870	890	920	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	0.2	0.17	0.17	0.06

GOVERNMENT	Actual	Q3/18	Q4/18	Q1/19	Q2/19	2020
Government Debt to GDP	31.20 percent	32	32	33	33	34
Government Budget	-1.40 percent of GDP	-1.8	-1.8	-2.1	-2.1	-1.2
Government Budget Value	-244.20 TWD Billion	-227	-227	-300	-300	-355
Government Spending	588658.00 TWD Million	600255	598491	599749	602786	626950
Government Revenues	2731.20 TWD Billion	2731	2731	2800	2800	2875
Fiscal Expenditure	2958.10 TWD Billion	2958	2958	3100	3100	3230
Military Expenditure	9874.90 USD Million	9800	9800	9990	9990	10000

BUSINESS	Actual	Q3/18	Q4/18	Q1/19	Q2/19	2020
Manufacturing PMI	53.00	54	54.3	54	53	53.5
Industrial Production	4.43 percent	4.2	2.7	8.6	5.8	-1.1
Industrial Production Mom	0.62 percent	0.1	0.5	0.4	0.3	0.8
Manufacturing Production	5.01 percent	3.3	4.1	3.9	3.7	3.8
New Orders	43676.00 USD Million	41600	41300	41500	41900	44000
Changes in Inventories	10753.00 TWD Million	5200	-14000	3220	11230	16100
Bankruptcies	2878.00 Companies	2250	2900	3320	3500	2300
Car Production	15297.00 Units	25800	22100	23600	23900	23800
Car Registrations	21808.99 Thousand	21820	21840	21875	21915	22190
Leading Economic Index	111.30 Index Points	111	110	112	112	114
Internet Speed	16869.04 KBps	17500	17800	17940	18000	18770
IP Addresses	7115844.00 IP	7113000	7109000	7085000	7061000	6900000
Cement Production	869.68 Thousands of Tonnes	860	850	843	839	810
Coincident Index	108.88 Index Points	108	107	105	109	116
Competitiveness Index	5.33 Points	5.33	5.33	5.35	5.35	5.37
Competitiveness Rank	15.00	15	15	16	16	17
Ease Of Doing Business	15.00	14	14	12	12	11
Corruption Index	63.00 Points	61	61	62	62	59
Corruption Rank	29.00	30	30	28	28	31
Mining Production	-6.10 percent	-6.5	-7.8	-9.2	-13.4	6.1
Steel Production	2040.00 Thousand Tonnes	1900	1990	2010	1950	1800

CONSUMER	Actual	Q3/18	Q4/18	Q1/19	Q2/19	2020
Consumer Confidence	82.56 Index Points	83.2	83.1	82.8	82.9	82.9
Retail Sales Mom	1.30 percent	2.6	0.3	-0.6	-1.5	1.8
Retail Sales YoY	3.20 percent	4.9	3.9	3.6	4.9	4.9
Consumer Spending	2306965.00 TWD Million	2301228	2347015	2352593	2362332	2458616
Disposable Personal Income	8721300.00 TWD Million	8850000	8850000	9080000	9080000	9250000
Personal Savings	1774100.00 TWD Million	1820000	1820000	1895000	1895000	1936000
Consumer Credit	8121855.00 TWD Million	8145000	8166000	8183000	8196000	8990000
Bank Lending Rate	2.64 percent	2.64	2.64	2.64	2.76	3.26

HOUSING	Actual	Q3/18	Q4/18	Q1/19	Q2/19	2020
Housing Index	285.55 Index Points	288	290	293	295	315
Construction Output	-15.27 percent	7.3	9.4	5.7	3.5	7.3

TAXES	Actual	Q3/18	Q4/18	Q1/19	Q2/19	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	13	13	13
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	Q3/18	Q4/18	Q1/19	Q2/19	2020
Temperature	27.97 celsius	26.69	20.69	16.91	24.48	22.47

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