The Taiwanese economy expanded 4.94% year-on-year in the last three months of 2020, the strongest growth rate since the first quarter of 2011, preliminary estimates showed. Exports jumped 5.7%, amid strong foreign demand for parts of electronic products and information, communication and audio-video products. Also, government consumption rose 4.77 percent and private spending shrank less (-1.1%) while gross capital formation contracted 1.4%. Considering full 2020, the economy expanded 2.98 percent, the same as 2.96 percent in 2019. source: National Statistics, Republic of China
GDP Annual Growth Rate in Taiwan averaged 7.17 percent from 1962 until 2020, 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 February of 2021.
GDP Annual Growth Rate in Taiwan is expected to be 2.50 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 3.40 in 12 months time. In the long-term, the Taiwan GDP Annual Growth Rate is projected to trend around 2.60 percent in 2022, according to our econometric models.