The Taiwanese economy expanded 3.14 percent year-on-year in the first quarter of 2022, faster than a preliminary estimate of 3.06 percent advance but slowing from an upwardly revised 5.32 percent growth in the previous quarter. Real private consumption slowed sharply (0.46 percent vs 1.82 percent in Q4 2021), particularly in transportation and recreation, but the economy received strong support from gross fixed capital formation (5.82 percent vs 14.45 percent). Also, net external demand remained positive, with exports up 8.95 percent (vs 12.05 percent) and imports climbing a slower 8.35 percent (vs 16.43 percent). Finally, government spending decreased (-0.52 percent vs 4.59 percent), as expected during periods of growth. On a seasonally adjusted quarterly basis, the economy advanced 1.06 percent, following a 2.42 percent expansion in the previous period. For full-year 2022, GDP is seen rising 3.91 percent, 0.51 percentage points lower than the previous estimate. source: National Statistics, Republic of China
GDP Annual Growth Rate in Taiwan averaged 7.15 percent from 1962 until 2022, 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 June of 2022.
GDP Annual Growth Rate in Taiwan is expected to be 3.30 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 3.50 percent in 2023 and 3.30 percent in 2024, according to our econometric models.