Taiwan - KDNK Kadar Pertumbuhan Tahunan

Taiwan's economy advanced 2.91 percent year-on-year in the third quarter of 2019, after a 2.40 expansion in the previous period and beating market expectations of 2.5 percent, the advance estimate showed. It was the strongest growth rate in over a year, boosted by a rebound in government expenditure (3.68 percent vs -2.66 percent in Q2); and private consumption grew by 1.96 percent (vs 1.55 percent in Q2), mainly reflecting the sales growth of cars and electric scooters, partly offset by the decrease in financial services. Meanwhile, fixed investment shrank by 1.01 percent (vs 5.90 percent in Q2), with a decline in inventory changes and a higher comparison base last year while machinery and equipment expenditure rose. Exports of goods and services increased by 4.23 percent (vs 4.13 percent in Q2), mostly driven by strong foreign demand for information, communication & audio-video, and parts of electronic products while imports rose a t a softer 2.17 percent (vs 3.68 percent).

Taiwan's annual economic growth stood at 2.40 percent in the second quarter of 2019, little-changed from a preliminary reading of 2.41 percent and above the previous period's 1.83 percent expansion. Private consumption grew by 1.55 percent (vs 1.46 percent in Q1), mainly reflecting the growing sales of cars and boutiques, as well as new opening department stores and retail outlets; and fixed investment rose by 7.51 percent (vs 6.85 percent in Q1), primarily due to the increase in machinery and equipments investment as well as transport equipments. In addition, exports of goods and services grew by 4.13 percent (vs 0.87 percent in Q1), mainly driven by the foreign strong demand for information, communication and audio-video products, as well as refined petroleum products. Imports also increased by 3.68 percent (vs 1.13 percent in Q1).

Taiwan's economy grew 2.41 percent year-on-year in the second quarter of 2019, the most in a year, following a 1.71 percent expansion in the previous three-month period and beating market expectations of 1.8 percent, the advance estimate showed. Private final consumption increased 1.57 percent (vs 1.32 percent in Q1) as purchases of cars and electric scooters offset a decrease in sales of information and communications equipment, and the slump in financial services. Also, gross capital formation rose 6.04 percent (vs 6.90 percent in Q1) primarily due to the increase in machinery and equipment investment as well as transport equipment. In addition, exports jumped 4.11 percent (vs 0.97 percent in Q1) driven by demand for information, communication and audio-video, as well as refined petroleum products; while imports increased at a softer 3.69 percent (vs 1.13 percent in Q1).

The Taiwanese economy advanced 1.71 percent year-on-year in the first quarter of 2019, slightly below an advance estimate of 1.72 percent and compared to an upwardly revised 1.8 percent expansion in the prior period. It was weakest growth rate since Q2 2016. Gross capital formation went up 6.9 percent, slowing from 9.32 percent in the prior quarter, on lower investment in transportation equipment and changes in inventories. Also, private consumption grew 1.32 percent, easing from 1.46 percent, mainly due to sales of autos, information & communication technology equipment, and financial services and government spending shrank 3.31 percent, after expanding 4.11 percent. Net trade contributed negatively to the GDP as exports increased 0.97 percent (vs 1.63 percent in Q4), due to the global economic growth slowdown, and the high base in the same period of 2018 and imports rose 1.13 percent (vs 4.61 percent in Q4). On a seasonally adjusted quarterly basis, the economy grew 0.58 percent.

The Taiwanese economy advanced 1.72 percent year-on-year in the first quarter of 2019, slowing from a 1.78 percent growth in the prior quarter, but above market consensus of a 1.66 percent expansion, an advance estimate showed. It remained the weakest growth rate since the second quarter of 2016, as government spending shrank 3.37 percent after expanding 3.55 in Q4 and private consumption slowed to 1.45 percent from 1.67 percent. Also, gross capital formation eased sharply (6.8 percent vs 9.42 percent), mostly due to a decline in transport equipment. Net trade contributed negatively to the GDP, as exports rose 1.2 percent (vs 1.29 percent in Q4) and imports increased 1.47 percent (vs 4.29 percent). On a seasonally adjusted quarterly basis, the economy grew 0.49 percent, after expanding 0.37 percent in the previous period.

The Taiwanese economy expanded 1.78 percent year-on-year in Q4 2018, compared to an advance estimate of 1.76 percent but below an upwardly revised 2.38 percent growth in the previous period. It is the slowest expansion since Q2 2016. Gross capital formation slowed sharply (9.42% vs 17.33% in Q3), on lower investment in machinery & equipment and private consumption was barely unchanged (1.67% vs 1.69%), as weaker sales of ICT products and a slump in financial services were offset by higher spending during local elections and referendums. Also, the contribution from net trade was more negative as exports rose only 1.29% (vs 1.35% in Q3) despite imports slowed (4.29% vs 4.68% in Q3). Conversely, government spending rebounded markedly (3.55% vs -1.47%). On a seasonally adjusted quarterly basis, the economy grew 0.37 percent, after an upwardly revised 0.47 percent in Q3. For the whole 2018, the GDP advanced 2.63%, below 3.08% in 2017. For 2019, it is projected to grow by 2.27%.