Markets Actual Q1 Q2 Q3 Q4 2023
Currency 27.56 27.66 27.75 27.84 27.93 28.11
Stock Market (points) 18553.74 17886 17384 16894 16419 15510
Government Bond 10y (%) 0.69 0.86 0.95 1.04 1.14 1.39

Overview Actual Q1 Q2 Q3 Q4 2023
GDP Growth Rate (%) 0.27 1.4 0.4 1.1 1.5 1.5
GDP Annual Growth Rate (%) 3.70 2.9 4 4.9 4 3.8
Unemployment Rate (%) 3.71 3.6 3.7 3.7 3.68 3.71
Inflation Rate (%) 2.62 2.9 3 3.1 1.8 1
Interest Rate (%) 1.13 1.25 1.38 1.38 1.38 1.5
Balance of Trade (USD Million) 5767.40 2000 2000 2000 3000 3000
Current Account (USD Million) 26100.00 22500 22500 22500 21600 21600
Current Account to GDP (% of GDP) 9.50 10 10 10 10 10
Government Debt to GDP (% of GDP) 28.20 34 34 34 34 33
Government Budget (% of GDP) -4.50 -2 -2 -2 -2 -1.5
Manufacturing PMI (points) 55.50 53 53 52 52 51
Consumer Confidence (points) 73.02 85 85 85 85 85
Retail Sales Mom (%) 0.65 4.5 4.5 4.5 4.5 4.5
Corporate Tax Rate (%) 20.00 17 20 20 20 20
Personal Income Tax Rate (%) 40.00 40 40 40 40 40

GDP Actual Q1 Q2 Q3 Q4 2023
GDP Growth Rate (%) 0.27 1.4 0.4 1.1 1.5 1.5
GDP Annual Growth Rate (%) 3.70 2.9 4 4.9 4 3.8
GDP (USD Billion) 668.50 700 700 700 700 725
GDP Constant Prices (TWD Million) 5234078.00 5424184 5413640 5428942 5490548 5641152
Gross National Product (TWD Million) 5319517.00 5783609 5346060 5383914 5580173 6014953
Gross Fixed Capital Formation (TWD Million) 1414947.00 1260673 1231208 1320521 1484279 1311100
GDP From Agriculture (TWD Million) 78468.00 109598 91142 92693 82313 113982
GDP From Construction (TWD Million) 133172.00 114824 128982 131410 139697 119417
GDP From Manufacturing (TWD Million) 2013841.00 1900813 1755505 1899580 2112519 1976846
GDP From Mining (TWD Million) 2850.00 3882 2988 3165 2990 4037
GDP From Public Administration (TWD Million) 283105.00 279066 289181 295546 296977 290228
GDP From Services (TWD Million) 2975985.00 3393592 3171505 3080196 3121808 3529336
GDP From Transport (TWD Million) 102657.00 132643 127179 113258 107687 137949
GDP From Utilities (TWD Million) 87100.00 87771 77804 81457 91368 91282

Labour Actual Q1 Q2 Q3 Q4 2023
Unemployment Rate (%) 3.71 3.6 3.7 3.7 3.68 3.71
Employed Persons (Thousand ) 11464.00 11544 11604 11640 11680 11800
Unemployed Persons (Thousand ) 442.00 435 435 435 435 435
Labor Force Participation Rate (%) 59.06 59.2 59.27 59.33 59.38 59.38
Labour Costs (points) 80.07 109 109 109 109 109
Minimum Wages (TWD/Month) 24000.00 24500 24500 24500 24500 24500
Wages in Manufacturing (TWD/Month) 52539.00 52500 52500 52500 53200 54100
Population (Million) 23.55 23.61 23.61 23.61 23.61 23.61
Youth Unemployment Rate (%) 12.42 11.7 12.2 12.6 12.2 12.2
Wages (TWD/Month) 50106.00 52900 52900 52900 54000 55100

Prices Actual Q1 Q2 Q3 Q4 2023
Inflation Rate (%) 2.62 2.9 3 3.1 1.8 1
Consumer Price Index CPI (points) 105.40 106 107 108 107 108
Core Consumer Prices (points) 105.43 106 106 106 107 109
Core Inflation Rate (%) 1.80 1.9 1.8 1.5 1.5 1.5
Producer Prices (points) 106.38 109 109 109 108 110
Food Inflation (%) 4.23 2 2 2 2 2
CPI Housing Utilities (points) 104.14 106 106 108 106 107
CPI Transportation (points) 105.59 106 106 106 106 106
Inflation Rate Mom (%) -0.06 0.1 0.1 0.1 0.1 0.3
Producer Prices Change (%) 12.15 8.5 5.5 3.5 1.5 1.5

Money Actual Q1 Q2 Q3 Q4 2023
Interest Rate (%) 1.13 1.25 1.38 1.38 1.38 1.5
Interbank Rate (%) 0.48 0.61 0.74 0.74 0.74 0.74
Money Supply M2 (TWD Million) 53311701.00 56439855 56439855 56439855 60357172 65580261
Foreign Exchange Reserves (USD HML) 5484.08 5575 5801 5698 5718 6213
Banks Balance Sheet (TWD Million) 52961209.00 53883689 54647513 55411336 56175159 56575160
Loans to Private Sector (TWD Million) 13600178.00 13231119 13713409 14297710 14144185 14681664
Central Bank Balance Sheet (TWD Million) 18849359.00 19440630 19440630 19440630 21324740 21324740
Loan Growth (%) 7.62 5 5 5 5 5

Trade Actual Q1 Q2 Q3 Q4 2023
Balance of Trade (USD Million) 5767.40 2000 2000 2000 3000 3000
Current Account (USD Million) 26100.00 22500 22500 22500 21600 21600
Current Account to GDP (% of GDP) 9.50 10 10 10 10 10
Imports (USD Million) 34951.02 26500 26500 26500 26500 26500
Exports (USD Million) 40718.42 28500 28500 28500 29500 29500
External Debt (USD Million) 215863.00 195000 195000 195000 195000 199000
Tourist Arrivals (Thousand) 13.46 1090 1090 1090 1110 1110
Gold Reserves (Tonnes) 423.63 423 423 423 423 423
Foreign Direct Investment (USD Million) 1448.02 970 970 970 970 950

Government Actual Q1 Q2 Q3 Q4 2023
Government Debt to GDP (% of GDP) 28.20 34 34 34 34 33
Government Budget (% of GDP) -4.50 -2 -2 -2 -2 -1.5
Government Budget Value (TWD Billion) -455.80 -355 -355 -355 -355 -355
Government Spending (TWD Million) 696877.00 715795 698472 696389 731024 744426
Government Revenues (TWD Billion) 2875.41 2875 2875 2875 2875 2875
Fiscal Expenditure (TWD Billion) 3331.21 3350 3350 3350 3350 3350
Military Expenditure (USD Million) 11597.00 10500 10500 10500 10500 10500

Taxes Actual Q1 Q2 Q3 Q4 2023
Corporate Tax Rate (%) 20.00 17 20 20 20 20
Personal Income Tax Rate (%) 40.00 40 40 40 40 40
Sales Tax Rate (%) 5.00 5 5 5 5 5
Social Security Rate (%) 15.76 14.02 14.02 15.76 15.76 15.76
Social Security Rate For Companies (%) 12.15 11 11 11 11 11
Social Security Rate For Employees (%) 3.61 3.2 3.2 3.2 3.2 3.2

Business Actual Q1 Q2 Q3 Q4 2023
Manufacturing PMI (points) 55.50 53 53 52 52 51
Industrial Production (%) 12.19 5 3 3 5 5
Industrial Production Mom (%) 0.21 1.5 1.5 1.5 1.5 0.8
Manufacturing Production (%) 11.53 3 3 3 3 3
New Orders (USD Million) 65502.00 50000 53000 53000 56000 58000
Changes in Inventories (TWD Million) 47839.00 -20000 -20000 -20000 22000 22000
Car Production (Units) 24449.00 20000 20000 20000 21000 21000
Car Registrations (Thousand) 22578.92 22300 22300 22300 22300 22300
Leading Economic Index (points) 136.70 115 115 115 115 115
Coincident Index (points) 136.88 113 113 113 115 115
Steel Production (Thousand Tonnes) 1700.00 1900 1900 1900 1900 1900

Consumer Actual Q1 Q2 Q3 Q4 2023
Consumer Confidence (points) 73.02 85 85 85 85 85
Retail Sales Mom (%) 0.65 4.5 4.5 4.5 4.5 4.5
Retail Sales YoY (%) 6.30 2 2 2 2 2
Consumer Spending (TWD Million) 2289227.00 2548889 2490733 2403871 2401399 2650844
Disposable Personal Income (TWD Million) 9532700.00 10113241 9809148 9914008 9999802 10517771
Consumer Credit (TWD Million) 10300126.00 9978003 10375044 10623254 10712131 11119192
Bank Lending Rate (%) 2.44 2.57 2.57 2.7 2.7 2.7

Housing Actual Q1 Q2 Q3 Q4 2023
Housing Index (points) 341.62 313 313 313 313 315


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Taiwan Forecast - was last updated on Tuesday, January 18, 2022.