The Taiwanese economy grew 2.27 percent year-on-year in the third quarter of 2018, advancing from a 3.29 percent expansion in the previous period and slightly below the preliminary reading of 2.28 percent. It was the slowest expansion since the third quarter of 2016. The contribution from net export declined as imports jumped 4.64 percent (from 4.53 percent in Q2) and exports grew 1.21 percent, well below a 6.03 percent gain in the prior period. Additionally, private consumption increased by 1.80 percent in Q3, easing from 2.29 percent; and government spending dropped 1.50 percent, following a 5.87 percent increase in Q2. Contrarily, gross capital formation increased 5.40 percent, after showing nearly no growth in the previous quarter. On a seasonally adjusted basis, the economy advanced 0.71 percent on quarter, below 0.80 percent in the preceding period. GDP Annual Growth Rate in Taiwan averaged 6.79 percent from 1962 until 2018, reaching an all time high of 17.06 percent in the third quarter of 1978 and a record low of -8.12 percent in the first quarter of 2009.
GDP Annual Growth Rate in Taiwan is expected to be 2.90 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 2.30 in 12 months time. In the long-term, the Taiwan GDP Annual Growth Rate is projected to trend around 1.80 percent in 2020, according to our econometric models.