Taiwan’s gross domestic product advanced 7.47 percent year-on-year in the second quarter of 2021, slowing from an 8.92 percent expansion in the prior period but above market forecasts of a 6.05 percent growth, preliminary estimates showed. The country saw a surge in coronavirus infections in May, which impacted the economy mainly at the private consumption level (-0.41 percent vs 2.11 percent in Q1). However, foreign demand was even stronger in the June quarter, as exports surged 22.93 percent (vs 21.31 percent in Q1), mainly driven by electronic parts and ICT products, while imports jumped 17.74 percent (vs 15.54 percent). Also, gross capital formation (8.58 percent vs 9.10 percent) remained solid while government spending shrank markedly (2.43 percent vs 4.28 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 August of 2021.
GDP Annual Growth Rate in Taiwan is expected to be 4.10 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 2.60 percent in 2022 and 2.00 percent in 2023, according to our econometric models.