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	Q4/18	Q1/19	Q2/19	Q3/19	2020
GDP Growth Rate	0.48	0.7	0.9	1.1	0.8	0.6	percent
Unemployment Rate	3.70	3.7	3.7	3.8	3.8	3.8	percent
Inflation Rate	1.17	1.5	1.4	1.6	1.8	1.8	percent
Interest Rate	1.38	1.38	1.38	1.5	1.5	2	percent
Balance of Trade	3356.10	3800	3400	2500	2800	3400	USD Million
Government Debt to GDP	31.20	32	33	33	33	34	percent


MARKETS	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Currency	30.82	30.75	30.86	30.96	31.06	31.47
Stock Market	9797.09 points	10938	10825	10714	10603	10173
Government Bond 10y	0.91 percent	0.91	0.92	0.94	0.95	1.02

GDP	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
GDP Growth Rate	0.48 percent	0.7	0.9	1.1	0.8	0.6
GDP Annual Growth Rate	2.28 percent	2.9	2.1	2.5	2.3	1.8
GDP	579.30 USD Billion	585	605	605	605	622
GDP Constant Prices	4158657.00 TWD Million	4266164	4233986	4262623	4254306	4438500
Gross National Product	4373254.00 TWD Million	4808852	4467570	4482585	4473839	5003111
Gross Fixed Capital Formation	916804.00 TWD Million	966450	908780	939724	937890	1005491
GDP From Agriculture	58251.00 TWD Million	64771	50498	59707	59591	67388
GDP From Construction	99398.00 TWD Million	83445	101078	101883	101684	86816
GDP From Manufacturing	1276214.00 TWD Million	1342668	1217920	1308119	1305567	1396906
GDP From Mining	3427.00 TWD Million	4015	3326	3513	3506	4177
GDP From Public Administration	270560.00 TWD Million	261743	274396	277324	276783	272316
GDP From Services	2626320.00 TWD Million	2840162	2691130	2691978	2686725	2954894
GDP From Transport	121171.00 TWD Million	127200	127935	124200	123958	132338
GDP From Utilities	29075.00 TWD Million	43031	30550	29802	29744	44769

LABOUR	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Unemployment Rate	3.70 percent	3.7	3.7	3.8	3.8	3.8
Employed Persons	11454.00 Thousand	11460	11470	11480	11490	11630
Unemployed Persons	440.00 Thousand	463	465	467	462	444
Labor Force Participation Rate	59.03 percent	59.2	59.2	59.2	59.3	59.8
Productivity	109.89 Index Points	114	114	103	108	120
Labour Costs	119.42 Index Points	96.8	128	109	103	109
Minimum Wages	22000.00 TWD/Month	22000	23200	23200	23200	24500
Wages in Manufacturing	46687.00 TWD/Month	47300	43200	45100	45900	49400
Population	23.57 Million	23.62	23.67	23.67	23.67	23.74
Youth Unemployment Rate	12.78 percent	12.7	11.4	11.2	11.8	13.2
Wages	47577.00 TWD/Month	49100	47400	48500	46500	50900

PRICES	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Inflation Rate	1.17 percent	1.5	1.4	1.6	1.8	1.8
Consumer Price Index CPI	102.65 Index Points	103	103	104	104	107
Core Consumer Prices	102.43 Index Points	103	104	105	104	106
Core Inflation Rate	0.72 percent	1.3	1.9	2.1	1.8	1.3
GDP Deflator	104.97 Index Points	107	110	106	105	106
Producer Prices	107.59 Index Points	108	108	112	114	123
Export Prices	102.09 Index Points	102	102	102	101	101
Import Prices	111.90 Index Points	110	111	111	111	112
Food Inflation	1.49 percent	0.8	1.1	1.2	1.7	2
Inflation Rate Mom	-0.16 percent	0.5	0.1	-0.3	-0.1	0.3
CPI Housing Utilities	101.78 Index Points	102	102	104	105	106
CPI Transportation	104.83 Index Points	105	105	106	106	108
Producer Prices Change	5.95 percent	5.6	6.5	6.4	6.6	6.9

MONEY	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Interest Rate	1.38 percent	1.38	1.38	1.5	1.5	2
Interbank Rate	0.66 percent	0.67	0.67	0.79	0.79	1.29
Money Supply M0	1893581.00 TWD Million	1890000	1985000	1930000	1920000	1950000
Money Supply M1	6672200.00 TWD Million	6890000	6910000	6940000	6970000	7250000
Money Supply M2	43837395.00 TWD Million	44070000	44100000	44350000	44470000	47100000
Banks Balance Sheet	43363589.00 TWD Million	43800000	44000000	44200000	44350000	45550000
Foreign Exchange Reserves	4601.80 USD Hundred Million	4590	4630	4650	4670	4680
Loans to Private Sector	11278139.00 TWD Million	11500000	11750000	12200000	12700000	13500000
Central Bank Balance Sheet	16819116.00 TWD Million	17500000	17700000	17900000	18100000	19100000
Loan Growth	5.27 percent	4.7	5.3	5.1	4.5	5.8

TRADE	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Balance of Trade	3356.10 USD Million	3800	3400	2500	2800	3400
Exports	29565.88 USD Million	28300	27000	26800	26100	22900
Imports	26209.73 USD Million	24500	23600	24300	23300	19500
Current Account	17820.00 USD Million	22500	21300	20800	19980	21140
Current Account to GDP	14.70 percent	13.9	13.5	13.5	13.5	13.2
External Debt	199051.00 USD Million	208000	211000	218000	222000	239000
Terms of Trade	91.20 Index Points	92.13	91.86	91.52	91.08	90.13
Capital Flows	14793.00 USD Million	15300	15800	16100	16300	17400
Tourist Arrivals	836.59 Thousand	880	900	920	950	890
Gold Reserves	423.60 Tonnes	424	424	424	424	424
Foreign Direct Investment	645.72 USD Million	870	890	920	940	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	0.5	0.17	0.17	0.5

GOVERNMENT	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Government Debt to GDP	31.20 percent	32	33	33	33	34
Government Budget	-1.40 percent of GDP	-1.8	-2.1	-2.1	-2.1	-1.2
Government Budget Value	-244.20 TWD Billion	-227	-300	-300	-300	-355
Government Spending	588658.00 TWD Million	599074	597409	603374	602197	623274
Government Revenues	2731.20 TWD Billion	2731	2800	2800	2800	2875
Fiscal Expenditure	2958.10 TWD Billion	2958	3100	3100	3100	3230
Military Expenditure	9874.90 USD Million	9800	9990	9990	9990	10000

BUSINESS	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Manufacturing PMI	48.70	51.3	52	53	51.9	51
Industrial Production	1.54 percent	2.7	8.6	5.8	4.9	-1.1
Industrial Production Mom	2.25 percent	0.5	0.4	0.3	0.1	0.8
Manufacturing Production	2.00 percent	4.1	3.9	3.7	2.9	3.8
New Orders	47858.00 USD Million	41300	41500	41900	42050	44000
Changes in Inventories	10753.00 TWD Million	-14000	3220	11230	23300	16100
Bankruptcies	2599.00 Companies	2900	3320	3500	2850	2300
Car Production	19373.00 Units	22100	23600	23900	24500	23800
Car Registrations	21845.70 Thousand	21840	21875	21915	21950	22190
Leading Economic Index	111.40 Index Points	110	112	112	112	114
Internet Speed	16869.04 KBps	17800	17940	18000	18140	18770
IP Addresses	7115844.00 IP	7109000	7085000	7061000	7047000	6900000
Cement Production	850.36 Thousands of Tonnes	850	843	839	831	810
Coincident Index	110.94 Index Points	107	105	109	110	116
Competitiveness Index	79.25 Points	79.75	79.75	79.75	79.75	82.25
Competitiveness Rank	13.00	13	13	13	13	13
Ease Of Doing Business	13.00	14	12	12	12	11
Corruption Index	63.00 Points	63	63	63	63	63
Corruption Rank	29.00	29	29	29	29	29
Mining Production	-10.00 percent	-7.8	-9.2	-13.4	-6.5	6.1
Steel Production	1925.00 Thousand Tonnes	1990	2010	1950	1915	1800

CONSUMER	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Consumer Confidence	81.95 Index Points	83.1	82.8	82.9	83.2	82.9
Retail Sales Mom	-1.90 percent	0.3	-0.6	-1.5	-3.1	1.8
Retail Sales YoY	2.77 percent	3.9	3.6	4.9	4.4	4.9
Consumer Spending	2306965.00 TWD Million	2349299	2343412	2364639	2360025	2444201
Disposable Personal Income	8721300.00 TWD Million	8850000	9080000	9080000	9080000	9250000
Personal Savings	1774100.00 TWD Million	1820000	1895000	1895000	1895000	1936000
Consumer Credit	8175513.00 TWD Million	8166000	8183000	8196000	8210000	8990000
Bank Lending Rate	2.64 percent	2.64	2.64	2.76	2.76	3.26

HOUSING	Actual	Q4/18	Q1/19	Q2/19	Q3/19	2020
Housing Index	283.98 Index Points	290	293	295	298	315
Construction Output	-15.27 percent	9.4	5.7	3.5	2.1	7.3

TAXES	Actual	Q4/18	Q1/19	Q2/19	Q3/19	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	14.02	14.02	14.02
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	Q4/18	Q1/19	Q2/19	Q3/19	2020
Temperature	27.97 celsius	20.69	16.91	24.48	22.91	22.47

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Taiwan - Economic Forecasts - 2018-2020 Outlook

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